Question ID :
40823
Tax deducted by Bank
A Bank has deducted Tax for Cash Transactions being in excess of Certain Prescribed Limits from a Cooperative Society. Can this be claimed while filing Income Tax returns . Tax deducted is not appearing in 26AS for relevent year
Posted by
Mahesh Kumar
on
Sep 11, 2020
Filed Under
DIRECT TAXES
If it is deducted in sep quarter,then last date of uploading TDS return is 31st October,So it is expected that you can view respective 26AS after 31/10/2020,latest by 15/11/2020 which is the last date of issuing TDS certificate.
Posted by
SUDIP KUMAR MUKHOPADHYAY on
Sep 11, 2020
Answer ID :
80742
if tax is deducted in sep qtr,then last date of uploading tds return is 31/10/2020.You are expected to view 26AS after that date.
Posted by
SUDIP KUMAR MUKHOPADHYAY on
Sep 11, 2020
Answer ID :
80744
If TDS deducted in not reflecting in 26AS but the TDS certificate is issued by the deductor, such TDS credit can be claimed in ITR even if excess deduction is made. But due to non reflection of such TDS in 26AS, there will be mismatch in TDS claimed and TDS as per form 26AS. Hence it is advisable to ask deductor to revise TDS return of relevant quarter before claiming such TDS in ITR.
Posted by
CA. chunauti dholakia on
Sep 14, 2020