October 29, 2016

TDS on Salary – Quarterly SMS alert Service for salaried about TDS

Income Tax Department launched the facility of sending Quarterly SMS alert Service for salaried about TDS. This will give an information about the TDS deducted by the employer.

Quarterly SMS alert Service for salaried about TDS

Features of Quarterly SMS alert Service for salaried about TDS

From now onward all employees will receive quarterly SMS alert Service for salaried about TDS. Using this alerts, employees can check their actual TDS to the message received. If there is any mismatch or error, then can immediately raise the issue with their employers.

Simultaneously, SMS alerts will also be sent to employers who have either failed to deposit taxes deducted or to e-file their TDS returns by the due date.

This initiative will benefit around 2.5 crore salaried. The Income Tax Department will soon extend this facility to 4.4 crore non-salaried taxpayers. The frequency of SMS alerts will be increased, once the process for filing TDS returns is streamlined to receive such information on a real-time basis.

To receive such SMS facility, you must update your mobile number in your e-filing account.

Once you receive this quarterly SMS alert Service for salaried about TDS, then you have to cross check the same first with the Form 26AS.

What is Form 26AS?

Form 26AS is an annual consolidated statement issued by Income Tax Department. It contains details of TDS, TCS or refund details related to particular PAN number. It will reflect the tax received by Government on your various income sources like Salary, Deposits or pension income.

Form 26AS is generated on annual basis (FY). It will be generated whenever tax related transaction(TDS deducted,Advance tax paid) happens with the taxpayer.

Where to download Form 26AS?

Login to your e-filing IT portal using your login credentials. Then click on “View Form 26AS (Tax Credit) link. The screen will look like below.

View Form 26AS online

# Then you will be re-directed to Traces Portal. Click on ‘View Tax Credit (Form 26AS)” tab.

Traces Form 26AS

# Next is to select the Assessment Year and the file format you want to download. After selecting these options click on “View/Download”.

View or Download Form 26AS Online

# Once you download the file, the Form 26AS looks like below.

Form 26AS sample

Here you notice that the details of your PAN number, FY, AY, your name, and address is available at the top of the form. Next you will find the tax deducted details.

In below side, you notice the details about the TDS. Here, you have to match this with your SMS received. If everything is fine, then you no need to worry. However, if there are any TDS mismatch, then follow the next steps.

What are reasons for TDS mismatch?

There are many reasons to it but the major reason is the negligence of your employer. I tried to list few of them as below.

  • If your employer not filed TDS return.
  • Quoting wrong PAN number of the employee.
  • Quoting wrong PAN and TAN number of employer.
  • Missing to include details of TDS payment while filing TDS return.
  • Quoting wrong challan identification number.
  • Wrong amount entered.
  • Quoting wrong assessment year.

How to rectify the mismatch or errors in Form 26AS?

There are many versions written on this. However, if you go by Traces FAQs, the procedure is explained as below. First, you have to identify the exact mismatch. If you are not able to do so, then contact your employer for the same. After identifying the mismatch or errors in Form 26AS, the employer can file revised TDS return with correct details.

If your employer not co-operate and the error still exists, then contact TIN Call center at below address.

TIN Call Centre, National Securities Depository Limited, 3rd Floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune – 411 045.

Tel: 020 – 2721 8080.

Fax: 020 – 2721 8081.

Email: [email protected]

However, if your issue is not yet resolved, then you can write an email to your assessing offer by quoting the reference number you received during the contacting of TIN Call Center. You will get the contact details of your AO HERE.

4 Comments

  1. Sir,

    I retired on 30.09.2016 from Bank’s (SBI) service, the Bank deducted TDS on my salary correctly up to 30.09.2016. I received pension from the Bank for further six months i.e. from 01.10.2016 to 31.03.2017 which amounts to
    Rs. 235000/- (approx.), and the Bank has not deducted any TDS for this amount of pension paid to me. Please advise me how can I file the ITR return and also pay the TDS due to me.

    Thanks & Regards,

    Rameshchandra Jogadia

    Reply
    • Rameshchandra-Both are considered as income from salary and you have to file IT Return accordingly.

      Reply
  2. Iam working in Tata company in hyderabad… 2 days back i resigned the job so Can you tell me what is the process to transfer from one company to another conpany and how many days validity is their to apply the same pf nunber to New company

    Reply
    • Suresh-Instead of transferring you just share the same EPF number to your new employer.

      Reply

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