sft section in 26as
Under 26as, in sft section, sub section sft-005 (transactions related to time deposit/fds above 10 lacs) what is the difference between an amount shown in positive and an amount in negative?and what does remark O mean?
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In the 26AS form, any record shown as a negative entry implies a corrective entry passed by the filer.
The remark ‘O’ against an entry stands for ‘Overbooked’ and it means that amount shown as TDS / TCS in Form 26AS is more than the actual TDS / TCS deposited in the bank by the deductor against that particular challan / certificate.
In the 26AS form, any record shown as a negative entry implies a corrective entry passed by the filer.
corrective entry as in?
The remark ‘O’ against an entry stands for ‘Overbooked’ and it means that amount shown as TDS / TCS in Form 26AS is more than the actual TDS / TCS deposited in the bank by the deductor against that particular challan / certificate.
how can amount shown in tds/tcs in 26as be more than the same deposited than bank?
for this particular year, 2 year old thing, interest and tds certificates as per 26 as and as per the certificates given by the bank matched.
SFT is not related to Tax Credits.
It just shows your transaction above the limit mentioned.
Probably you might have 10L worth of FDs which got matured and reinvested.
I usually ignore this as it does not have any tax implications, so I might be wrong.
what about this https://imgur.com/a/V...3H
I have asked the person to search for the computation as advised by members.
@Maverick_23 @ChottaBheem @bohemian @B3A5T
that 26as was for financial year 2016-2017. checked computation for same year and the below amount is the tax paid
https://imgur.com/a/V...3H
actually they had older print out of 26as before this tax deposit date. in that this entry was not there. i also did not know that after depositing of tax, same amount is shown in same financial year 26as so was the confusion. it was not advance tax but total tax paid after computation thank you all friends.
about sft it is very much confusing so we have left that. we will just make sure that interest certificate given by bank=26as. will that be sufficient?
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@Maverickz @ChottaBheem @panchabhut @andromeda
what is this tax paid? can credit for this be taken?
https://imgur.com/a/V...3H