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April 2009

CBDT has started issuing Annual Tax Statement to assessees

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants
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1 CBDT has started issuing Annual Tax Statement to
assessees

The CBDT has started issuing Annual Tax Statement to
assessees, a consolidated statement in Form 26AS which gives details for a
particular tax year of details of tax deducted by the employer/others and
the taxes by way of advance tax/self-assessment tax during the said tax
year. The intention is verification of these details by the taxpayer for
getting suitable tax credit. The Department would rely on this while
processing the returns of assessees. In case there is some discrepancy
noticed by the tax payer, they should contact the tax deductor/relevant bank
to sort the same. Also the Tax Department should be intimated about the
errors.

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