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Income Tax Returns: TDS plays an important role while filing Income Tax Return (ITR). TDS is a kind of system issued by the government. It includes tax deducted from the income of the taxpayer.
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 TDS deduction while filing ITR. Form 26AS in ITR contains information related to TDS amount.
This information is in Form 26AS
Part A of Form 26AS contains details of TDS deducted from income during the entire business year. It contains details like name of the deductor, TAN number, source of income, date of deposit of 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 TDS information in Form 26AS does not match with Form 16?
