Which income to show in itr 1 ??

ITR 517 views 14 replies

DEAR EXPERTS,

                           I WANTS TO FILE  MY RETURN OF FY 14- 15 , BUT 26 AS AND FORM 16 IS SHOWING DIFFERENT INCOMES.

26 AS-----   RS.1333366     TDS-----   RS.3350

FORM 16-   TOTAL INCOME----  RS 302510

WHICH INCOME SHOULD I SHOW IN INCOME DETAILS AND TAX DETAILS OF ITR 1.

Replies (14)
Form 16 is ur salary related made by ur employer its show tds deducted by him form 26as is tds record as per govt so now u understand y difference r coming
Check tds in both same or not

See the income from salary as per form 16. should be somewhere around 13L. see how it came to 3L what are the deductions?. (10L deductions?)These details have to be entered in the IT return form properly. Post a detailed breakup of form 16.

 

sorry its rs 133366 not rs 1333366

tds is same in both 26 as and form 16... just salary is showing difference.....i,e 133366 and 302510

madhavi mam according to form 16 part a( where quarter wise salary is given............ ) , and 26 as its 133366 and according to form 16 part b annexture where gross salary and deductions are given...total salary i,e after deductions is rs.302510    ... tax is same in all. 

Mr. Shobhit, you should file ITR as per form 26as, because Form 26as shows the actual amount of TDS you have deposited to Govt.

Whereas Form 16 or 16A shows Tax deducted at source from Income chargable under the head "Salaries" only.

 

And Mr., According to me, Form 16 or 16A shows that TDS deducted only but form 26as shows that TDS deducted and deposited to Govt.

The Form 26AS contains details of tax deducted on behalf of the taxpayer (you) by deductors(employer, bank etc.). So, TDS deductions that are given in Form 16 / Form 16 A can be cross checked using Form 26AS. The TDS amounts reflected in Form 26AS and Form 16/16A should always be the same.

(If there are discrepancies, the IT dept will consider the TDS figures as per Form 26AS only. You need to contact the TDS deductor to rectify any errors. For example– If your employer has updated your PAN wrongly, TDS deduction will not get reflected in your From 26AS. In this case, you need to get this error rectified by your employer.)

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Take 26as income. Form16 is your company giving deduction of tax
Since Form 16 shows higher salary, You should show that 3 lakhs wala amount to be in safe site which is your actual salary.

The amount of salary shown in form 16 is approx 3L and salary shown in 26AS is 1.3L but TDs in both is same, right?

You should take salary as per form 16 and then work out the deduction u/s 80C etc.

These two amounts never tally in all the cases I have seen till now. (I dont know the reason)

No, you should take salary as per form 26as. 

I ALSO WANT TO FILE AS PER 26 AS.....BUT STILL THE TRUTH IS I HAVE GOT ACTUAL SALARY 3LACKS APPROX....I WILL HAVE TO CLAIM CERTAIN DEDUCTIONS TO BROUGHT IT DOWN TO 2.5 LAKHS....


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