POSTED BY June 19, 2012 7:47 pm COMMENTS (2)
ONI am going to file my taxes for the first time, all though my Tax to be paid is Zero.
When I looked into the Form 26AS, i see PART A says “No Transactions”.
Would you please clarify me why such a statement is mentioned.
Though i don’t pay any tax shouldn’t it display Zero in TDS.
Please Clarify
thank you
RV
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Dear Raghu, as you said your tax liability was zero & no tax was paid, that’s why the form 26As is showing no transactions. This no transactions is not only for part A but for all other parts as well.
Thanks
Ashal
RV,
It should show TDS deducted amount (if TDS has been deducted). The reason why it may not have any details are :
1. The company which has deducted your TDS has not filed the TDS return;
2. No TDS was deducted;
I am facing some issues for my clients whose Form 26AS has not been updated for deductions which happened in March 2012.