₹21,300 left every month
TaxSavvy for TDS not showing in 26as
TDS cut but missing in 26AS? Get the credit.
We reconcile Form 168 (old 26AS), AIS and books, then chase the deductor.
How we get it done
Four steps, the same for every job. You see each one ticked.
Information
Only the documents this job needs. Upload once, or send on WhatsApp.
Discussion
The few questions that change the answer, asked once, yes or no.
Forms
We prepare and file. You stay in the loop for every OTP.
Deliverables
The filing, the acknowledgement and a written answer in FPAC.
See what you get, free
Real formats, made with dummy data.
Sample Sample ₹36,280 less tax in the new regime
Sample Net worth ₹14.9 lakh
Questions, answered the CA way
Facts, Provisions and law, Analysis, Conclusion.
TDS on Property Purchase: Section 393(1) (old 194IA), Form 141 (old Form 26QB)
- Facts
- When you buy any property valued above ₹50L, you must deduct 1% TDS from the payment to the seller and deposit it with the government. This is not optional. The buyer is responsible, not the seller. Non-compliance: buyer becomes assessee in default with 1.5%/month interest and penalty equal to TDS. Most property buyers discover this obligation only after receiving a notice.
- Provisions and law
- Sec 393(1) (old 194IA(1)); Sec 393(1) (old 194IA(2)); Rule 26QB; TDS on each payment; Agriculture land
- Analysis
- How Sec 393(1) Table Sl. No. 3(i), Income-tax Act 2025 (old Sec 194IA) works step by step: Buyer pays token money ₹5L (Day 1). TDS: 1% of ₹5L = ₹5,000. Pay ₹4,95,000 to seller. Deposit ₹5,000 TDS to government. File Form 141 (old Form 26QB) within 30 days. Next milestone payment ₹20L (Day 60). TDS: ₹20,000. Same process. At registration: balance payment ₹25L. TDS: ₹25,000. Same process. Total TDS for ₹50L property: ₹50,000 (1%). Each payment requires separate Form 141 (old Form 26QB). What is included in "consideration": Base property price. Parking charges (if mentioned in agreement). Maintenance deposit (if part of agreement consideration). Club/amenity charges in agreement. All components mentioned in agreement = total consideration. If total consideration (all components) ≥ ₹50L: TDS applies on the full amount. If total consideration < ₹50L: no TDS even if individual apartment price seems high.
- Conclusion
- Check: is total property consideration (all components) ≥ ₹50L? If yes: Sec 393(1) Table Sl. No. 3(i) (old Sec 194IA) applies
- Collect seller's PAN, mandatory for Form 141 (old Form 26QB). Without seller PAN: TDS rate = 20%.
- Deduct 1% TDS from each payment to seller (token, milestones, registry payment)
- Pay net amount (99%) to seller, deposit 1% TDS online at incometax.gov.in or TIN-NSDL
The 7 patterns that generate 80% of all notices
- Facts
- 1. AIS not reconciled before filing: Annual Information Statement has 50+ data categories. Any item in AIS not in your ITR = guaranteed notice. Download AIS before filing every year.
- Provisions and law
- AIS (Sec 285BB, now 510) | SFT (Sec 285BA) | GSTR-2B | 26AS (now Form 168)
- Analysis
- 2. TDS mismatch: Your Form 16 (now Form 130) shows ₹2L TDS but 26AS (now Form 168) shows ₹1.9L deposited. File ITR with 26AS (now Form 168) figures, not Form 16 (now Form 130), and follow up with employer to correct the mismatch. 3. High-value cash deposits: ₹10L+ in savings account in a year gets reported via SFT. If you can't explain the source with documented income, you'll get a notice. 4. GSTR-2B not reconciled: Claiming more ITC than GSTR-2B shows = ITC reversal notice + 18% interest. 5. Capital gains not reported: MF redemptions, stock sales, property sale, all reported via SFT. Missing these = notice. Include all in Schedule CG. 6. Rental income not declared: Bank SFT now catches rent payments above ₹50K/month. Tenants' AIS shows rent paid. Your AIS shows rent received. If it's not in your ITR, you get a notice. 7. Cash transactions above ₹2L: Sec 269ST. Receiver of ₹2L+ cash in one transaction faces 100% penalty on the amount.
FD Interest: Slab Rate, Sec 393 (old 194A) TDS, Form 121 (old Form 15G / 15H)
- Facts
- FD interest is the most commonly underdeclared income in India. Banks report every rupee to AIS via SFT. CPC computers compare AIS with ITR automatically. A missed ₹50,000 FD interest triggers a ₹25,000+ demand notice. Know the TDS rules and the Form 121 (old Form 15G/15H) exemption.
- Provisions and law
- Sec 393 (old 194A); Sec 393(6) (old 197A); Sec 93 (old 57); Rule 114-I; Sec 5
- Analysis
- How FD interest appears in AIS: Your bank files SFT to TRACES quarterly. Interest credited or accrued above ₹10K per account appears in AIS Category 5 (Interest from Deposits). If you have FDs in 3 banks: all 3 show up in AIS. Total AIS interest figure must match what you declare in ITR Schedule OS (Other Sources). Mismatch = Sec 270(1), Income-tax Act 2025 (old Sec 143(1)) notice. TDS threshold per bank: The ₹40K threshold (₹50K senior) is per bank, not per FD. All FDs in one bank are aggregated. Example: SBI FD interest ₹35K + SBI RD interest ₹10K = ₹45K → TDS applies (above ₹40K). But SBI ₹35K + HDFC ₹35K = SBI below threshold (no TDS from SBI) + HDFC below threshold (no TDS from HDFC) → but your total income includes both ₹35K amounts. You must pay tax on ₹70K total even though no TDS was deducted. Form 121 (old Form 15G) eligibility: Non-senior. TWO conditions both must be met: (1) FD income from THAT bank must be below ₹40K.
- Conclusion
- List all FDs across all banks, amount, rate, maturity date, interest credited this FY
- Download Form 131 (old Form 16A) from each bank (TDS certificate for FD interest) or check Form 168 (old Form 26AS)
- Download AIS, Category 5 (Interest from deposits), add up all banks
- Compute total FD interest for the year. This is income from other sources.
Form 130 (old Form 16): Part A and Part B Decoded
- Facts
- Form 130 (old Form 16) is the salary TDS certificate, the most important document for a salaried person's ITR. Most employees receive it but don't know how to use it. Part A shows TDS deposited with the government. Part B is the salary breakup prepared by the employer. Errors in Form 130 (old Form 16) cause ITR mismatches and demands.
- Provisions and law
- Sec 395(4) (old 203); Rule 215 (old Rule 31); TRACES system; Sec 392 (old 192(2B))
- Analysis
- Form 130 (old Form 16) Part A, what to check: (1) Employer TAN must match what's in your Form 168 (old Form 26AS). (2) Your PAN must be correct. (3) TDS amount quarter-wise must match your Form 168 (old Form 26AS) and AIS. (4) "Amount paid / credited" = your gross salary for each quarter. (5) If employer changed TAN mid-year (company restructuring): multiple Part As may exist. Form 130 (old Form 16) Part B, the salary breakup: Shows: Basic salary, HRA, special allowance, LTA, bonus, perquisites. Deductions: Sec 123, Income-tax Act 2025 (old Sec 80C) investments, Sec 126 (old Sec 80D) health insurance, home loan interest (24b), standard deduction ₹75K. Taxable salary after deductions. TDS schedule with advance tax if any. This is what flows into your ITR Schedule S (Salary) and should match your AIS salary figure. Common Form 130 (old Form 16) errors: (1) Old investments not included in Part B (employer didn't update after you submitted Form 124 (old Form 12BB)). (2) HRA exemption computed wrong (wrong city classification).
- Conclusion
- Receive Form 130 (old Form 16) from employer by June 15 (if not received: email HR immediately)
- Check Part A: TAN, your PAN, period of employment, TDS figures, match with Form 168 (old Form 26AS)
- Check Part B: salary breakup is complete, Basic, HRA, allowances, perquisites, bonus
- Verify deductions in Part B: Sec 123, 126, 22(1)(b) (old Sec 80C, 80D, 24(b)), NPS Sec 124 (old Sec 80CCD(2)), standard deduction ₹75K
TDS cut but missing in 26AS? Get the credit.
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