Form 26AS Tax Detected and Deposited amount is not matching with actual Detection

Share
Share This Thread
  1. SUNIKUMA

    SUNIKUMA New Member

    I have few FD in Banks on which bank was supposed to detected the Tax. According to Form 26AS Bank has detected and deposited the full tax. But when I check my accounts statements bank has not yet detected the full tax amount which they have shown in Form 26AS as detected and deposited section. In Form 26AS Detected and Deposited section amount is matching.

    Could anyone know what would be the case, why bank has not yet detected the full tax amount from my bank account? Does I have submit Tax which is not credited from my bank account while it is showing in deposited section of Form 26AS?

    Is the Tax Detected and Deposited details mention in Form 26AS are final details?

    Waiting for your reply experts.
     
  2. ZED

    ZED Well-Known Member

    So, they have DEDUCTED that much amount which they have deposited to the CG.

    If the tax is due then yes it must be paid by you.
    Actually there is some confusion, see the above sentence wherein you are saying that "Tax which is not credited from my bank account while it is showing in deposited section of Form 26AS"

    Whereas in starting para you said "In Form 26AS Detected and Deposited section amount is matching"

    [I believe you meant "deducted", instead of "detected"]

    If possible also post a snapshot of these deductions.
     
  3. SUNIKUMA

    SUNIKUMA New Member

    Hi ZED, Thanks alot for your prompt reply. I am attaching the snapshot of one section of my Form 26AS. Could you please check and let me know according to that section do I still need to deposited any amount as a Tax Liability? Just for the information the amount shown in the "Total TDS Deposited" section still not be deducted by bank from my bank account.
     

    Attached Files:

  4. ZED

    ZED Well-Known Member

    This is in respect of FD. You prolly haven't received any interest therefrom either. When they will pay you the interest , then they will give it to you after considering these deductions. They have paid the money to CG. that is why the entry is coming in 26AS.
    Your tax has been deducted from FD interest.

    But mere Tax deduction by bank does not necessarily mean that no tax is to be paid by you. Bank deduct tax @ 10%, but if tax on your total income is more than 10% then for the remaining amount you will have to pay tax.
    For example if you are in 20% slab rate then you might need to pay additional 10% tax on your own.

    Kindly enter these details at the time of filing of return and the utility will compute the tax payable by you.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
What is Form 26AS (How does it work filling IT return) Income Tax Oct 11, 2018
Wrong entry in Form 26AS Income Tax Mar 26, 2018
FORM 26AS:STATUS OF BOOKING "F" Income Tax Nov 6, 2017
TDS deduct BY Gov Treasury Office and I cant see it in Form 26AS Income Tax Jul 31, 2017
Transaction not appearing in Form 26AS but in Form 16 Income Tax Feb 4, 2017