For many salaried taxpayers, a recent message from the Income Tax department regarding Total Tax Deducted at Source (TDS) has sparked confusion. The SMS reads, ‘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.’
Amidst the perplexity, some taxpayers have wondered if this message implies additional tax payments. However, there’s no cause for alarm. The message merely serves as acknowledgment from the tax department regarding TDS deposited during the final quarter (Q4) and the preceding financial year.
Introduced in 2016, this SMS alert service aims to keep taxpayers informed about their total TDS deductions. It’s a proactive measure to ensure transparency and clarity in tax matters.
This notification not only provides reassurance but also aids in cross-referencing with salary slips, helping individuals reconcile any discrepancies in tax dues or deductions.
In tandem with this initiative, the Income Tax department has launched online forms such as ITR-1, ITR-2, and ITR-4 for filing tax returns for the financial year 2023-24 (FY24) on its website. Taxpayers can leverage these forms for hassle-free filing, accessible through the Income Tax department’s online portal.
With the deadline for filing income tax returns (ITR) for FY24 set for July 31, 2024, taxpayers are urged to utilise these resources to fulfill their tax obligations efficiently.
