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
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