Income Tax Return: Mismatch in Form-16 and Form 26AS ?
TDS (Tax Deducted at Source) should ideally be the same in Form 26AS and Form 16 or 16A. However, sometimes there might be Mismatch in Form-16 and Form 26AS due to several reasons including clerical mistake. To be able to file your income tax return, it is essential that tax credit in Form 26AS and Form 16/16A should be the same.
For tax computation, it is important to know the TDS already deducted from your salary so that any additional tax on other incomes can be determined properly. If excess TDS has been deducted, then you may also be liable for a refund from the department.
Common errors leading to Mismatch in Form-16 and Form 26AS:
- The person deducting TDS has not filed TDS return.
- Wrong amount mentioned in TDS return.
- Wrong PAN number of the employee quoted by the deductor.
- Wrong PAN and TAN number of the deductor stated.
- Wrong Challan Identification Number of TDS payment quoted in TDS Return.
- Wrong Assessment Year stated in TDS return.
- Any detail of TDS payment omitted from the TDS return.
- Challan-wise annexure in TDS Statement does not mention details of the employee such as name or gender.
- Erroneous TDS amount claimed in the return.
- False or excess TDS claimed in the return.
What is Form 26AS?
Form 26AS is consolidated from multiple sources like your salary, pension, interest income etc. Only a registered PAN holder can view their Form 26AS on TRACES. Form 26AS is the annual statement in which the following details of taxpayers are disclosed –
- Tax deducted at source, or
- Tax collected at source, or
- Advance tax or Self Assessment tax paid by the taxpayer,
- Refund received,
- High-value transactions
These details are as per the database of Income-tax Department as authorised by Income Tax Act, 1961. It will reflect the tax credit against the PAN of the taxpayer which a taxpayer can use in paying the Self-Assessed Taxes.
What is Form-16?
Form 16 is a certificate issued by an employer for tax deduction at source (TDS) from the salary of the employee. It contains the information you need to prepare and file your income tax return.
Form 16 is used to get refund of the amount paid in excess of the tax liability in form of Tax Deducted at source (TDS). It also act as a proof of tax payment and income, which can be submitted while applying for loan. It consists of all the TDS that has been deducted from employee’s salary. There may be some question that every person may have. Check the article-
Read Also: Everything about Form 16 under Income Tax
Mismatch in Form-16 and Form 26AS
If there is a mismatch in either the quantum of income or the TDS, the correct way to rectify the error in form 26AS is to inform the deductor (employer, bank, etc.) and ask it to file a rectified TDS return. The deductee cannot himself make any corrections in the form 26AS.
Filing of revised TDS Return will take some time, and even after the revised version is filed, it will take more time for the correction to reflect in Form 26AS.
It would be unwise to attempt making changes manually on your own; the income tax department could then ask for explanations for your action. The Income Tax department allows the assessee to mention the reason for mismatch in the online portal in answer to a Notice sent by the department. The income tax portal, too, provides the option to raise your complaint under the grievances tab.
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