A salaried IT professional in Velachery filed his return expecting a routine refund, only to get a notice flagging a mismatch between his Form 26AS and what he'd declared. He hadn't made an error — he'd simply forgotten a small mutual fund redemption from mid-year, which is exactly the kind of gap that shows up constantly in this locality's profile.
Why this is specifically a Velachery pattern
Velachery has a real concentration of salaried professionals in IT and finance, many of whom hold mutual fund investments and salary components beyond a simple monthly paycheck — bonuses, stock options, interest income from savings. Form 26AS and the Annual Information Statement capture all of this automatically from banks, employers, and fund houses, whether or not the individual remembered to include it in their own return.
The mismatch isn't always your mistake
Sometimes the discrepancy is genuinely on your end — a forgotten redemption or interest credit. Just as often, it's a timing difference, where TDS gets reported by the deductor in a different period than expected, or a reporting entity attributes a transaction incorrectly. Both look identical as a notice, but the fix is completely different.
Reconciling before you file, not after a notice arrives
Pulling your Form 26AS and AIS before filing — not after a mismatch notice shows up — and reconciling every entry against your own records catches these gaps while there's still time to correct the return itself, rather than responding to a notice after the fact.
If you're in Velachery and want your Form 26AS and AIS properly reconciled before you file this year, C S Rushil & Co. handles this as a routine part of individual tax filing. Book a free consultation.