ITR Filling Tips: What to do if TDS data is not matching while filing ITR? Know the answer here..
TDS plays an important role in filing Income Tax Return (ITR). TDS is a kind of system issued by the government. It includes the tax deducted from the income of the taxpayer.
What is TDS? (What is TDS)
Let us tell you that TDS is a kind of system that was started by the government to prevent tax evasion. It is deducted as tax in a fixed amount before paying any salary, interest, rent, or professional fees. The amount included in TDS goes directly to the government.
If more TDS amount is deducted, then the taxpayer can claim for TDS deduction while filing ITR. Form 26AS in ITR contains information about the amount related to TDS.
Form 26AS contains this information
Part A of Form 26AS contains information about TDS deducted from income in the entire business year. It contains information like the name of the deductor, TAN number, income source, date of depositing TDS, etc.
The TDS information given in Form 26AS should be filed only after verifying it. Now the question arises what to do if the information related to TDS in Form 26AS does not match with Form 16?
What to do if there is a TDS mismatch in 26AS
If the information related to TDS in Form 26AS is not correct or there is a mismatch, then the taxpayer can modify it. The Income Tax Department has given the facility of information modification to the taxpayers.
According to the information available on the official website of the Income Tax Department, the taxpayer can modify the TDS information given in Form 26AS by giving the correct reason. In cases like deducting tax from the wrong PAN number or not giving information of TDS details to the Income Tax Department, the taxpayer cannot make the amendment.
For this reason, it is also advised by the Income Tax Department that the taxpayer should verify the information shown in Form 26AS. If the information given in Form 26AS is incorrect, then get it corrected. For this, the taxpayer can also file a TDS/TCS correction statement.
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