How to Correct Errors in Form 26AS

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The most common errors relate to incorrectly quoted PAN, incorrect tax year mentioned, payment of tax in the wrong section, omission of TDS payment details in the declaration, incorrect deduction or payment, among others. ​All of these issues can only be corrected by the deductor reviewing the TDS statement.

Tax return: how to correct errors in Form 26AS

It’s that time of year when investors are rushing to get their tax paperwork in order, as the tax return (RTI) filing deadline approaches. Form 26AS is an important document that serves as a passbook for your tax filings. It is important to complete Form 26AS correctly, lest your tax return, if any, for the tax year be affected.

It is extremely important to match the tax credit figures on your Form 26AS with your Form 16 or Form 16A, this is to ensure that the tax deducted by your employer on wage income, by your bank on income interest or by your landlord on rent due is the amount shown on Form 26AS.

Why might a mismatch occur?

There are many reasons that can lead to an error in Form 26AS. For example, incorrect reporting of the TDS amount deducted from your salary or interest income by your employer or bank accounts represents an error on Form 26AS. Sometimes when filing TDS statements, the deductive may list the wrong PAN against your name, which may result in an error in your Form 26AS.

Discrepancies or errors in 26AS affect the availability of TDS as a tax credit. Unfortunately, as someone whose tax was deducted, there is not much you can do if there is an error in 26AS. The only recourse is to approach the deductor to rectify or reclassify the problem, create TDS statements and correct the mismatch. Some chartered accountants claim that errors such as citing the wrong year of assessment or making the wrong category of taxes paid when filing withholding tax or self-assessment tax can also lead to errors.

How to correct an error in Form 26AS

The rectification of an error in Form 26AS depends on the nature of the error. Supposedly, if the deductor, the employer or the bank, made a mistake when filing your tax against your PAN with the government, then in such a case, you should contact your deductor to rectify the error.

If you notice an error in the 26AS, you should first try to reconcile the differences between the amount you believe should be seen in the 26AS and what is actually there. This will help you identify who needs to rectify the error. The most common errors relate to incorrectly quoted PAN, incorrect tax year mentioned, payment of tax in the wrong section, omission of TDS payment details in the declaration, incorrect deduction or payment, among others.

All of these issues can only be corrected by the deductor reviewing the TDS statement. Contact the person who deducted the TDS and ask them to check the TDS statements they filed for errors and explain the mismatch you see. They will need to revise the TDS statements to rectify the error. If you are unable to resolve the problem after contacting the deductor, the best thing to do is to contact a professional for assistance.


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