How to fill 'Tax Details' section in ITR1
The 'Tax Details' tab shows all the details of the tax deducted, collected, and deposited with the government against your PAN.
The 'Tax Details' tab shows all the details of the tax deducted, collected, and deposited with the government against your Permanent Account Number (PAN). These details are automatically populated in the online ITR-1 from your Form 26AS by the e-filing website software. However, if you are filing ITR-1 using Excel or Java utility, then these details will not be auto-filled.
Form 26AS is your annual consolidated tax passbook containing details of all the tax that has been deposited against your PAN. It usually contains details of tax deducted by your employer, banks, and advance-tax and self-assessment taxes, if any, paid by you. You can download this statement from the TRACES website.
While this section of ITR1 on the e-filing website auto-populates the taxes paid from Form 26AS, you must cross check each of these details with the relevant documents (TDS certificates, Form 16, 16A, tax challans etc) to ensure that there is no error. If you have provided the wrong PAN information to tax deductors (banks/employers), then taxes deducted will not be reflected in Form-26AS.
Let us have a look at the five heads that you should check:
1. Details of tax deducted at source (TDS) from salary (as per Form-16)
This schedule contains details of tax deducted by your employer from your salary. It shows TAN number, name of your employer (present and former), and employer wise break-up of the income chargeable under the head salary and TDS by each of them in FY 2018-19.
You should match tax details in Form 26AS with TDS certificates received by you. If there is a mis-match in your tax details, you should bring it to the deductor's notice and get it corrected. Abhishek Soni, CEO, Tax2win.in, a tax-filing website says, "If there is a mis-match in your Form26AS and TDS certificate, you will not get credit of the tax deducted. You can enter these details manually in the schedule but remember that the tax department can ask you about the details of the tax credit availed. However, please note that the tax department will give you the credit of TDS as per Form 26AS only. In such a case, you need to contact your employer and need to get Form 26A rectified."
2. Details of TDS from income other than salary (as per Form16A)
The second schedule under this tab contains details of TDS deducted from incomes other than salaries such as TDS from interest earned from fixed deposits, taxable bonds etc. If interest earned from fixed deposits (FDs) with a bank exceeds Rs 10,000 in FY 2018-19, then TDS would be deducted and it would be reflected in this schedule. Similarly, interest earned from different sources like bonds of NBFCs is subject to TDS if it exceeds the specified limits. For senior citizens, TDS from interest incomes will be deducted if it exceeds Rs 50,000 in a financial year.
3. Details of TDS (as per Form 26QC furnished by the deductor)
In FY 2018-19, if you have received monthly rent of Rs 50,000 or above, then the payer (your tenant) should have deducted TDS. These TDS details would be reflected in schedule 3 of 'Tax Details'. You should ask your tenant to provide Form 16C for the details of TDS and match these with the amount reflecting under this head.
4. Details of tax collected at source (TCS) (as per Form 27D issued by the collector)
This schedule contains the details of the tax collected by the seller. Soni says, "Tax is collected at source (TCS) if you have bought any old or new motor vehicle whose value exceeds Rs 10 lakh. The seller will collect tax at the rate of 1 percent of the amount paid by you to buy that motor vehicle. The seller would have issued you Form 27D for the tax collected from you and deposited against your PAN. This will reflect in your Form 26AS online."
Therefore, if you have bought a motor vehicle in FY 2018-19, whose value exceeded Rs 10 lakh, then make sure this schedule is reflecting the correct details.
5. Details of advance tax and self- assessment tax
The last schedule in this tab will show the details of advance tax and self-assessment tax paid by you. These details are auto-picked from your Form-26AS and auto-filled in the schedule. It is advisable to check these with the details of the challan of the tax paid to ensure there is no mis-match.
Soni adds, "At times, there can be a delay in updation of Form 26AS with details of advance tax and self-assessment paid by you. In case there is a mis-match, you can enter these details manually and claim tax credit. But do keep tax challan receipts safely in case tax department asks you to provide the proof for the same."
Taxes paid and verification
Once you have checked the details in the 'Tax Details' tab, the next tab, i.e., the fifth tab 'Taxes Paid and Verification' automatically calculates the tax payable/refundable, if any, to show if there is any amount payable by you or any tax refund due to you.
This tab will show the total amount of taxes paid by you and total tax payable or tax refund, if any. If there is any amount to be paid by you, you should pay it before submitting your ITR. If there is no balance tax payable, then 'Amount Payable' will be shown as zero. If any tax refund is due to you, it will be shown in the corresponding cell.