POSTED BY June 19, 2012 7:47 pm COMMENTS (2)ON
I 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.
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2 replies on this article “FORM 26AS”
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.
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.