Which one is to follow, Form 16 or 26AS?
Which one is to follow, Form 16 or 26AS or my own calculation?
Apparantly both form 16 and 26 AS shall show same data. But queer things happen with my pension banker SBI. Every year it shows less TDS then what it deducted actually and requires several intimation to rectify. Again it shows lesser in amount-paid column, the reason , it says, since no TDS is made in one or a couple of months at the begining of the FY no entry is made in both TDS and Amount-paid column.
So 26AS shows lesser amount of pension in Amount-paid column.
This year my banker has added inteterst amount of MOD (a fixed deposit) in the total pension in form 16.
So my calculation, form 16 and form 26 AS all are different.
Any solution.
By the way, CPCC (SBI) Guwahati looks after my pension payment.
Apparantly both form 16 and 26 AS shall show same data. But queer things happen with my pension banker SBI. Every year it shows less TDS then what it deducted actually and requires several intimation to rectify. Again it shows lesser in amount-paid column, the reason , it says, since no TDS is made in one or a couple of months at the begining of the FY no entry is made in both TDS and Amount-paid column.
So 26AS shows lesser amount of pension in Amount-paid column.
This year my banker has added inteterst amount of MOD (a fixed deposit) in the total pension in form 16.
So my calculation, form 16 and form 26 AS all are different.
Any solution.
By the way, CPCC (SBI) Guwahati looks after my pension payment.
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Ashutosh Ji, Form 16 should ideally be generated from IT Department website as per IT rules, and in that case, there shall be no difference. If you feel that there is lesser or higher tax being shown in 26AS, it is indeed your duty to get it rectified. Give the intimations to bank branch in writing and then approach regional office with the grievance. Use the information in the IT return whichever one is correct and get the other one rectified. For any more information, you may mail me at simardeep88@hotmail.com. Simardeep Singh Chartered Accountant
Jul 31
The form 26AS is important, but we have to report all the income received during one financial year and report the same in the ITR. If any income not reported in the 26AS we have to take up the matter with the SBI and request them in writing with acknowledgement copy for record to revised the return so that you total income as well as TDS should reflect in your 26AS. If the TDS deducted by the SBI and not reflected in your 26AS AO will not allow credit for the same and will raise the demand or hold your refund, as the case may be.
Jul 26
IT dept. may show some entries in the next AY. so do not worry about pl, it is better if you go thru your form 26AS.
Jul 19
ASK MANAGER TO PUT THE MATTER BEFORE SBI CONCERNED DEPT TO CHECK WHETHER THEY HAVE DEPOSITED ALL THE AMOUNT TO TAX AUTHORITIES AGAINST YOUR PAN NO. IF AMOUNT DEDUCTED PAID TO TAX AUTHORITIES WITH THE PAN NO, THEN 26AS WILL MATCH TDS SHOWN IN FORM 16/16A. MEANWHILE YOU CLAIM TDS AS PER FORM 16/16A.
Jul 18
