How are the details of TDS/TCS with respect to non-governmental deductors posted in Form 26AS?
Every non-governmental entity that has deducted or collected tax at source is required to deposit the tax to the government account through a bank. Banks will upload this payment-related information to the TIN central system. These deductors are also required to file a quarterly statement to TIN giving the details of their TDS/TCS. The TIN central system will match the tax payment-related information in the statement with the tax receipt information from the banks. If both of these match, TIN will create a comprehensive ledger for each PAN holder giving details of the tax deducted/collected on its basis by every deductor who has filed the statement.
A3 Every non-governmental entity that has deducted or collected tax at source is required to deposit the tax to the government account through a bank. Banks will upload this payment-related information to the TIN central system. These deductors are also required to file a quarterly statement to TIN giving the details of their TDS/TCS. The TIN central system will match the tax payment-related information in the statement with the tax receipt information from the banks. If both of these match TIN will create a comprehensive ledger for each PAN holder giving details of the tax deducted/collected on its basis by every deductor who has filed the statement.
