ITR Filling TDS plays an important role while 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. Many times the TDS information in Form 26AS is incorrect. Let us know in this article what the taxpayer should do in such a situation?
Income Tax Return: TDS plays an important role while 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 which 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 during the entire business year. It contains information like 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 verification. Now the question arises that what to do if the information related to TDS in Form 26AS does not match with Form 16?
DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
