The ITR furnishing season has comes to an end most of the people are just aware of the amendment along with the correct process. Some employers have not updated the salaried employees about the tax deducted at source (TDS) which is April-June and July to December quarters for FY 2020-21 (Financial Fear 21) in Form 26 AS.
This is owing to the extension of the deadline required to file a TDS report by employers. The information about the TDS details for Q1 and Q2 of FY21 is not been shown inside the Form 26AS said the employed assessee even the similar is deducted through the employer.
In some cases, the assessees may have examined the Form 26AS for FISCAL YEAR 21 while furnishing the ITR for FY 19-20 and it is seen that TDS is not mentioned in the provided Form 26AS that is updated on the quarterly grounds.
From July 31, 2020, and October 30, 2020, to March 31, 2021, the Central Bureau of Direct Taxes (CBDT) had prolonged the due date for furnishing the TDS Check out the details of TDS/TCS return e-filing in AY 2020-21 (FY 2019-20). Also, we mention quarterly and annual TDS/TCS return due dates by a simple table format report for April-June (Q1) quarter and July- September (Q2).
TDS is deducted through the employer of the employee and gives to the tax council every month, generally in one month of deducting TDS. The employer is needed to provide a TDS report with the tax council every quarter. Thus July 31 is the last date for providing TDS for the April-June quarter. This was prolonged in FY21 on the account of Covid-19 relief measures to support the employers which deal with the lockdown stipulations.
26AS Form Under Income Tax
The income tax department creates a yearly consolidated tax statement stated as Form 26AS Steps to view and download the tax credit statement traces form 26AS. Also, we mention the difference between actual TDS & reflected TDS in Form 26AS. Read More. All assessee can easily reach it utilizing their PAN from the income-tax website.
Dear friend, though one of my friends has deposited advance tax in the SBI against a proper receipt under challan no.280 FY 2022-23 the amount is not reflected in the form 26AS as of now despite the fact that the amount was reflected in the said form a fortnight ago. visiting the Traces website it is learnt that their system has encountered a technical problem. Several days have passed but no correction is done. In this scenario what should be the way out for mu friend. thanks S s
You need to contact or either visit Income Tax Department for this issue.
Kindly forward updated 26 AS of 2020_21 to file income tax on time.
I am a retired defence pensioner. In spite of a couple of attempts, I have not been able to get updated form 26 AS for the FY 20-21. I have also not been able to get form 16A from the bank. I thus can not file the return. Advise
I Have Been Suggesting / Advising That In FORM 26 – AS All Concerned Banks, NBFCs,
All Other Companies, L I C s, Should Feed All The Interest Amounts Paid To A Person /Assess, Including S. B. Accounts Interests,
IRRESPECTIVE OF THE FACT WHETHER
ANY T D S Is Recovered OR Not. I Have Found Only A Very Few Do This ( Even Without Any T D S ); All The Assessees / Or Non – Assessees P A N Numbers Are
Already Available With All Concerned. This Will Help Not Only The Assessees, But
Also, Income Tax Authorities, To Know The Actual Correct Income For Correctly Filing
The Income Tax Returns. This Way, The Concerned BANKS, NBFCs, LICs, COMPANIES
Need Not Issue Any Form 16; O R No Companies, Banks, LICs, NBFCs, Etc.
NEED to Feed This FORM 26 – AS Of Any Assess, If There Is NO T D S; Whatever Is
Decided By Finance Minister And All Others Concerned Likee I. T Authorities ;
CONFUSION Should Be Avoided And A Uniform Rule / Policy Should Be FOLLOWED ;