TDSMAN Blog

Smart & Easy TDS Software for Preparing TDS Returns

TDSMAN Blog - Smart & Easy TDS Software for Preparing TDS Returns

Viewing of TDS through form 26AS

How to view your TDS through form 26AS?

A taxpayer can view the tax credit or the tax that has been deducted on his behalf in the form of TDS. This information is available in Form 26AS and can be downloaded from the Income Tax website. It provides information about the tax deducted by various entities on behalf of the taxpayer.

Form 26AS contains details of tax deducted at source on salary, interest income, real estate or other investments, advance tax, refund received during the year and other related information.

The various ways to view one’s tax credit:

  1. Income tax e-filing website
  2. The TRACES website
  3. The taxpayer’s Internet banking access

Through income tax e-filing website

The site can be accessed on incometaxindiaefiling.gov.in. One must have a login id and password, or register on the website. On logging in, one can click on “My Accout/View Form 26AS”. On clicking the same, the user will be redirected to the TRACES website. The user will have to select the assessment year for which he wishes to view Form 26AS. The form will be displayed and can be downloaded.

Through the TRACES website

Visit http://contents.tdscpc.gov.in/en/home.html and click on the “Tax Payer” tab. Next, click on “register as new user” page and carry out registration process. On successful registration, an activation link and codes will be sent to the registered email id and mobile number. After clicking on the activation link and entering the code, one can login to the TRACES website and access Form 26AS.

Tax payer’s Internet banking access

A taxpayer who has Internet banking access with a bank authorised by the Income Tax Department to show tax credit, can use this facility. Log in to Internet banking and click on View Form 26AS. To know if a bank is authorised, one can visit http://contents.tdscpc.gov.in/en/netbanking.html.

Points to note

  1. View of Form 26AS through Internet banking is available only if the PAN is mapped to that particular account.
  2. Only a PAN holder whose TDS has been deducted or who has deposited tax (self assessment tax, advance tax, TDS on property) can register on TRACES
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Useful guidelines to avoid common mistakes while submitting TDS Statements

Following are some useful guidelines to avoid common mistakes, while submitting TDS Statements and you are requested to go through the following in detail.

Incorrect reporting of 197 Certificates:

Please refer to the following guidelines for correct reporting of 197 Certificates:

  • The Certificate Number should be of 10 digits with Alpha-numeric structure. Please refer to the following examples:
      • Correct Format 1111AA111A;
      • Incorrect Format: 1111AA111A/194C
    • Certificate Number should be valid during the period for which it is quoted.
    • The Certificate Number should be for the same PAN, Section Code and Section Rate for which it has been mentioned in the statement
    • Threshold limit Amount of the Certificate should not be exceeded.
    • Please ensure that the Certificate is not expired. Please refer to the following illustration:
      • Lower deduction Certificate under section 197, issued in April 2013 (e.g. Certificate Number – 1) stands cancelled by Assessing Officer on 10/11/2013.
      • A fresh certificate Under Section 197 (e.g. Certificate Number – 2) is issued with effect from 11/11/2013.
      • Deductor quotes Certificate Number – 2 against the transactions recorded during the period from 01/11/2013 to 10/11/2013 in Q3 TDS statement.
      • Deductor should have quoted Certificate Number – 1 for the transactions conducted till 10/11/2013.

Common errors resulting into Short Payment Defaults:

  • Typographical errors committed by deductor, in reporting the date ‘20032014’    in the “Tax Deducted” column.
  • Total of “Amount Paid / Credited” reported in the “Tax Deducted” column of the statement. This results into short payment and Deductors need to ensure that the TDS/TCS Deducted/Collected amount should be equal to TDS/TCS Deposited Amount.

The above mistakes are illustrated below:

Amount Paid/ Credited

TDS Deducted

TDS Deposited

Remarks

1,55,000.00 1,55,000.00 15,500.00 Wrong TDS Deducted Amount
2,20,420.00 20032014.00 22042.00 Date mentioned in the TDS Deducted Column

 Actions to be taken:

  • CIN Particulars (BSR Code, Date of Deposit and Challan Serial Number) mentioned in the TDS statement should exactly match with the CIN Particulars as available on ‘Challan Status’ at www.tdscpc.gov. in or ‘Challan Status Enquiry’ at www.tin-nsdl.com
  • For BIN (Book Identification Number), the particulars (24G receipt number, Date of transfer voucher and DDO Serial Number) mentioned in the TDS statement by the Govt. Deductors should exactly match with the BIN Particulars as available on ‘Challan Status’ at www.tdscpc.gov. in or ‘BIN View’ at www.tin-nsdl.com
  • Amount of Tax deposited pertaining to different BIN’s/ CIN’s should not be clubbed together while reporting in the TDS statements.
  • Few other common mistakes in reporting dates are as follows:

Actual Date of Deposit 
(As per Challan)

Date of Deposit mentioned in TDS Statement

Observations

07/01/2014 (07th Jan, 2014) 07/01/2013 (07th Jan, 2013) Wrong Year (2013 instead of 2014)
07/01/2014 (07th Jan, 2014) 01/07/2014 (01st July,2014) Wrong Date Format (MM/DD/YYYY)
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Due Dates for the month of March 2017

2 March 2017 – Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of January, 2017

7 March 2017 – Due date for deposit of Tax deducted/collected for the month of February, 2017. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

15 March 2017 – Due date for furnishing of Form 24G by an office of the Government where TDS for the month of February, 2017 has been paid without the production of a challan

15 March 2017 – Fourth instalment of advance tax for the assessment year 2017-18.

15 March 2017 – Due date for payment of whole amount of advance tax in respect of assessment year 2017-18 for assessees covered under presumptive scheme of Section 44AD.

17 March 2017 – Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of January, 2017

30 March 2017 – Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of February, 2017

31 March 2017 – Last date for declaration of undisclosed income under Pradhan MantriGaribKalyanYojana, 2016.

31 March 2017 -​ Due date for payment of second installment (i.e., 25% of tax, surcharge and penalty) under Income Declaration Scheme, 2016.

Source: Income Tax

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