Regarding [ col (3) ] of Sch TDS2 in ITR1

Forums Deductions Regarding [ col (3) ] of Sch TDS2 in ITR1

Regarding [ col (3) ] of Sch TDS2 in ITR1

There is new column in Sch TDS2 in ITR1 .Amount which is subject to tax deduction [Col(3)]. What is to be filled in this column.
Thanks

Profile photo of Rohit Kapoor Asked By: Rohit 7 replies 7 helpful answers Last Updated: 4 months, 3 weeks ago
  • Profile photo of Rohit KapoorRohit
    Participant

    There is new column in Sch TDS2 in ITR1 .Amount which is subject to tax deduction [Col(3)]. What is to be filled in this column.
    Thanks

  • Profile photo of Roohi RasheedRoohi Rasheed
    Moderator

    Form 16A, is issued when TDS is deducted on income other than Salary. Ex. Banks deduct TDS @ 10%  on the Interest paid on Fixed Deposits for Resident Individuals.  Thus, such Interest earned during the Financial Year 2016-17 before deduction of Tax (TDS), if any has to be filled in this column. The amount can be checked from Form 26AS as well.

    • Profile photo of Rohit KapoorRohit
      Participant

      Thanks Roohi. The interest from fixed deposit is more as shown in 26AS during 2016-17. So do i only have to fill the amount shown in 26AS or the complete interest income? i.e the FD interest on which TDS has been deducted.

      • Profile photo of Roohi RasheedRoohi Rasheed
        Moderator

        The interest income as shown in 26AS is the Interest amount paid to you during the F.Y. 2016-17. The interest amount as shown in the Interest statement / Interest certificate as given by the bank is a sum of the Interest paid and Interest accrued during the last quarter of F.Y. 2016-17. TDS is deducted by banks usually only on the interest paid amount and not the accrued amount. Hence, you can report the Interest income as appearing in Form 26AS along with the TDS.

    • Profile photo of LoveleenLoveleen
      Participant

      Hi Roohi, in my 26AS shows the amount of interest earned and TDS deducted on same by the bank. When I show the interest as income from other sources, ITR form shows I need to pay more tax. Why is that, if the bank has already paid on my behalf.

  • Profile photo of RitwikRitwik
    Participant

    Dear Roohi Maam, I’am claiming 10000 rs under section 80TTA, now do i have to minus this 10000 from this amount shown under Amount which is subject to tax deduction [Col(3)] ? 26AS says Bank has paid me 20000 rs, should i make it 10k ? Also Maam please tell me what i need to fill for “income chargeable under salaries (col3) in TDS1” ? Should this be gross total income ?

    • Profile photo of susanta guha roysusanta guha roy
      Participant

      undersigned have 26 AS giving information taxes deducted as Rs. 20087/- whereas in col 5 taxes deducted is shown as 14630/- what shall be done?

  • Profile photo of AvadheshAvadhesh
    Participant

    Dear Madam, I am a salaried person. I have an FD in UBI and SBI.UBI has not deducted the TDS and SBi has deducted the TDS. My question is how can I get the exact TDS amount of my UBI FD to fill the ITR form. Pls do the needful.Thanks

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