Salaried taxpayers nationwide have recently received SMS notifications from the Income Tax Department regarding their Total Tax Deducted at Source ( TDS ). These messages, sent to individuals, contain details about TDS deducted by employers for the quarter concluding on December 31, along with the cumulative TDS for the fiscal year 2023-24.
The SMS notification, stating, “Total TDS by employer of PAN xxx for Qtr ending Dec 31 is ₹xxx and cumulative TDS for FY 23-24 is ₹xxx. View 26AS for details. ITD Team,” is intended to acknowledge the TDS deposits made during the last quarter and the preceding fiscal year.
However, there have been instances where recipients of this message have misunderstood its intent, raising concerns about potential outstanding tax liabilities to the department.
The SMS alert service was introduced at the close of 2016 to inform taxpayers about their overall TDS deductions, providing a mechanism for individuals to reconcile their salary statements with the data presented in the message.
Salaried taxpayers are anticipating the issuance of Form 16 by mid-June, marking the period when they can file their Income Tax Returns ( ITR ) for the fiscal year 2023-24. This timeline aligns with the mandate for employers to furnish Form 16 annually on or before June 15, following the fiscal year in which tax deductions occurred.
While there is an option for early filing using the Income Tax Department’s e-filing portal, experts advise a prudent approach, suggesting waiting until Form 26AS and AIS are comprehensively updated. This ensures a smoother process when filing ITR, as Form 16, a critical document provided by employers, contains essential details pertinent to tax filings, such as TDS and Tax Collected at Source ( TCS ) for various transactions between employers and employees.
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