Mismatch in Form 16A and Form 26AS? Ask deductor to get return rectified

Published: October 22, 2019 12:42:13 AM

NRI may transfer funds through proper banking channels to purchase property abroad. There are no restrictions imposed from the tax point of view, however, you shall have to follow the procedures and conditions as may be prescribed by the bank.

Form 16A, Form 26AS, annual scholarship, TDS, income tax, TDS, IT department, tax rebate, Scholarship, purchase property, ITR, e filing, tax Scholarship received to meet the cost of education is exempt in the hands of receiver as per Section 10(16).

By Chirag Nangia

Mismatch in Form 16A & Form 26AS ? Ask deductor to get return rectified
> I have consultancy income on which 10% TDS is deducted. One firm has not deposited TDS to I-T department. Will I have to pay tax again?
– Mihir Verma
Obtain Form 16A and verify the same with Form 26AS. Bring the mismatch to the notice of the deductor and request to get the return rectified to give effect to the deduction/payment of tax. However, deductee has no power to enforce revision of returns in case of discrepancy. If you have TDS certificate or any valid proof to support your claim of tax deduction then you needn’t worry. As per Section 205, if tax has already been deducted, taxpayer cannot be called upon for payment of tax to the extent to which tax has been deducted from that income.

> I want to donate Rs 1 lakh to my school for annual scholarship. Will I get income tax rebate?
—Neenad Deherkar
Scholarship received to meet the cost of education is exempt in the hands of receiver as per Section 10(16). However, there is no provision granting rebate to the person giving such a donation. Only contribution to approved institutions will give you benefit of deduction from taxable income under Section 80G subject to limits specified therein.

> My son became an NRI in 2014. He is earning rental income since 2017 and has fixed deposits of Rs 40 lakh (which includes pre NRI and after NRI period). He wants to buy a house abroad. Can he transfer his fixed deposit sum abroad?
—Rajesh Mittal
Yes, an NRI may transfer funds through proper banking channels to purchase property abroad. There are no restrictions imposed from the tax point of view, however, you shall have to follow the procedures and conditions as may be prescribed by the bank.

>  My ITR for FY18 (AY19) is still not processed. Should I send an email to I-T department for processing the return?
—Pankaj Kumar
Once you have filed ITR and verified it, the status will be shown as ‘Return Submitted and verified’. Thereafter, processing of returns at Central Processing Centre (CPC) takes some time. However, if, even after a long period of time, your ITR is not
processed , you can file a grievance using the ‘e-Nivaran’ facility on the I-T e-filing website.

The writer is director, Nangia Advisors LLP. Send your queries to fepersonalfinance@expressindia.com

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