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Income Tax , by Kanishka and Associates  on : March 13, 2018

How would you find out that your employer hasn't deposited TDS?

How would you find out that your employer hasn't deposited TDS?

Are you a king with lots of wealth? If you are not then how many times have you not confirmed the deposits you made in your bank account? I bet you check every time you deposit money. And you should, there is nothing wrong with it. After all, it is your hard earned money. It is not that you don't trust bank, but you want to be doubly sure about it. But do you check whether your employer has deposited the TDS that he deducted from your salary?

Your unruly's experience says that most of you don't check it. 

And why don't you all check it? You don't check it because you don't know the place to check.

The first place to check is form 26AS. You can easily find 26AS in the quick links at the left-hand side of the income tax website (www.incometaxindiaefiling.gov.in).

Although checking form 26AS is easier than licking tonnes of free chocolate ice-creams in a marriage party, but you should remember these 3 points.

# 1 - What should you check in it?

You should look for your employer's name in Part A of 26AS. And then compare each row of the table below your employer's name with your pay-stub (Pay-slip). In fact, your primary focus should be on last the last column named "Total TDS deposited."

# 2 - When should you check it?  

You should check it at least 45 days after every quarter ends. i.e., you should check after 15 Aug, then 15 Nov, 15 Feb and then 15 June.

On 15 Aug, you should check the TDS deducted from the salaries paid for the month of April, May and Jun. On 15 Nov you should check for July, August and September. And so on.

The reason for checking after 45 days of every quarter end is that income tax department updates form 26AS once in every quarter. 

# 3 - Why should you check it?

You know it very well. You should check it because if your employer doesn't deposit tax, then you would have to deposit on your own.

There is one more place to confirm the TDS deposits; I will cover them in my next ripple.

Do you see the left and right faced arrows at the left-hand top of the screen? Are they blue? If yes, then click on the right faced one to read my next ripple. And if you want to read the previous one, then please click on the left faced one.

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