• Disparity between bank account and 26AS details

I am using cleartax for e filing.My mother in law has received around 4 lakh as pension(from sbi bank accounts).where as her 26 AS showing only 2.5 lakh as total income and sbi has deducted some tds from there(data starts from august only,no mention about april-july )My qn is that when i am filing ,is it necessary that i included all amount or i shall mention only 26 AS salary
Asked 6 years ago in Income Tax

Hi,

Hope you are doing well !

You will have to mention whole amount.

Thanks & Regards,

Payal Chhajed

Payal Chhajed
CA, Mumbai
5188 Answers
291 Consultations

5.0 on 5.0

you have to disclose all amount i.e. 4 lakhs or if possible collect Form 16 from Bank/Payee, from form 16 we know exact income for the period

Lalit Bansal
CA, Delhi
773 Answers
61 Consultations

5.0 on 5.0

You will need to mention the total amount and pay taxes accordingly.

Regards,

Nikhil

Nikhil Khanna
CA, Mumbai
1429 Answers
19 Consultations

4.8 on 5.0

It is advisable to include all the amount I.e received in the bank account

Vidya Jain
CA, Kolkata
1012 Answers
58 Consultations

4.8 on 5.0

Dear Sir,

Mention the entire pension amount received by your mother inspite of lesser amount shown in Form 26AS. I suppose that your mother in law is senior citizen so she will get the benefit of exemption limit upto Rs.3 lacs

Thanks

Vivek Kumar Arora
CA, Delhi
4863 Answers
1052 Consultations

5.0 on 5.0

Dear Sir,

You need to include the whole amount while filing the return. In 26AS as the TDS is not deducted in the 1st Quarter the income related to that quarter was not reflected.

Praneeth Thunuguntla
CA, Guntur
56 Answers
1 Consultation

Not rated

Income is reflected in Form 26AS only when TDS had been deducted. Hence, only the income pertaining to the quarters in which TDS has been deducted will appear in Form 26AS.

However you have to disclose the entire amount received throughout the Financial Year while filing your Return. After computing the Tax liability on the entire income and then setting off the TDS already deducted (as shown in Form 26AS), balance tax can be paid through Form 280 online as 'Self Assessment Tax'.

Do let me know if you have any further queries. Will be happy to assist you.

Harshith Mannem
CA, Hyderabad
10 Answers
1 Consultation

Not rated

Hi

You need to include the actual pension received irrespective of the fact whether 26AS statement shows entire income or not.

Show entire 4 lacs as income in ITR.

Lakshita Bhandari
CA, Mumbai
5687 Answers
912 Consultations

5.0 on 5.0

Hi,

As per Income tax Act, the actual amount received or ought to have received shall be taxable in the hands of the assessee. Thus, while filing ITR of your mother-in-law you need to disclosed income as 4 lakhs and not 2.5 lakhs.

Also just to aware you, if your mother-in-law is a senior citizen the basic exemption limit shall be 3 lakhs instead of 2.5 lakhs, which brings tax to be calculated @5% on 1 Lakh which is 5,150(including cess). If TDS is more than 5,150 the balance amount can be claimed as refund. If it is less than 5,150 you need to pay the differential amount.

Hope this resolves your queries!

Siddhant Shah
CA, Mumbai
120 Answers
1 Consultation

5.0 on 5.0

Hi,

No, You can not claim because you dont have any receipt of this preventive health chek up.

Thanks & Regards,

Payal Chhajed

Payal Chhajed
CA, Mumbai
5188 Answers
291 Consultations

5.0 on 5.0

Dear Sir,

You will have to include the whole amount while filing the return even if it is not reflected in Form 26AS.

Warm Regards,

Karishma Chhajer

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

Hi

You should declare full amount in return.

Yes you can claim preventive health check up deduction .

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

5.0 on 5.0

Dear Sir,

Yes you can claim it.

Thanks

Vivek Kumar Arora
CA, Delhi
4863 Answers
1052 Consultations

5.0 on 5.0

No you cannot claim the 5000 deduction if you have not spent it and it you do not have a receipt.

Nikhil Khanna
CA, Mumbai
1429 Answers
19 Consultations

4.8 on 5.0

In absence of any receipts, it is advisable not to claim such deduction under section 80D.

Submit only such expenses for which you have valid proofs.

Lakshita Bhandari
CA, Mumbai
5687 Answers
912 Consultations

5.0 on 5.0

You are right about cash payments being valid for the aforementioned deduction too. However, strictly speaking from a legal point of view, a receipt would be required to be kept. In case a scrutiny is ordered into your Return for whatever reason, then you would be required to furnish supporting documents for all deductions and benifits claimed. However the probability of scrutiny being ordered for low income salary Returns is quite less. End of the day, it depends on your risk appetite.

Harshith Mannem
CA, Hyderabad
10 Answers
1 Consultation

Not rated

Hi,

You will have to show entire 4 lacs as your mother's income.

If you don't have receipt for preventive health check-up, its not advisable to claim it as deduction because you will not be able to justify your claim in case any query comes up.

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

You should show total income in Return as 26AS can not be considered as Proof of Income but Income credited in Bank account have to be show.

You can claim 5000 as preventive health check ip but you should be ane to price that it is actually incurred. If you have villa then it is easy to prove and without nulla you may create alternate science.

Narendra Sonagra
CA, Ahmedabad
57 Answers

Not rated

Dear Sir,

If you dont have sufficient valid proof of receipt, it is advisable not to claim such deduction.

If any IT notice come in future, you will not be able to justify the same.

Warm Regards,

Karishma Chhajer

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

Hi

yes definitely cash can be paid but you should have receipt for the same.In case of any departmental query,onus to prove the genuineness of transaction rest on you.

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

5.0 on 5.0

You have to show all salary amount irrespective of what the form 26AS shows & claim the TDS if ther is any.

Nitin Jain
CA, Jaipur
214 Answers

4.7 on 5.0

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