08 February 2018
I recently deposited TDS for the 3rd for Assessment year 2018-19 but wrongly selected the assessment year 2017-18 instead assessment year of 2018-19 in TDS Challan. I have also written a letter to Assessing Officer for correction of same. But my problem here is, Form 16 generated reflects only the income of the assessee and not the TDS deducted on such income, this might be due to the mistake in challan (explained above). Kindly provide me details regarding 1) What should be my next step after sending the letter to assessing officer regarding this mistake 2) Whether I need to revise the return? 3) how this error will be rectified in Form 16
08 February 2018
Challan assessment year no weightage given. Challan can be considered for any assessment year. No challan correction required. Revise the return include the challan in which assessment year you want irrespective of assessment year mentioned in the challan.
08 February 2018
You can utilise the tax paid in previous Ay following subsequent year In case tax has been deposited more than the required tax deducted at source for a particular Assessment Year, the excess amount of tax can be claimed in the following quarters of the relevant year. The balance amount if any, can be carried forward to the next year for claim in the TDS statement.
10 February 2018
Sir, though we can use the challan i.e. the assessment year doesn't matters. But here my question was why the TDS deducted and deposited is not reflected in Form 16 generated. And further the amount of Such TDS deposited is matched on OLTAS but is showing mismatched on TRACES
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