CONSO FILE

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This discussion addresses a common issue where TDS was deducted at a lower rate than required, leading to short deduction notices from the IT Department. The process involves paying the demand, adding the challan to the TDS statement, and filing a CONSO FILE. The core question is how to correctly reflect these payments when filing a revised TDS return, especially when separate challans are used for the original short deduction and subsequent interest.

Haren

Haren (Querist)
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30 November 2023 we have submitted our 26Q2,23 Return timely and here we shown one Party whose actual TDS deducted requirement 2% (U/s 94C) but we have deducted TDS Rate 1 %.

So IT Department Issue Short Deduction Notice , after received notice we have paid the demand amount and Online added our demand paid challan in TDS Statement & lastly have done CONSO FILE and download the conso file.

Now Our Question is how to show this Demand challan entry when we will REVISED TDS Return …………..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 November 2023 File revised TDS return with the challan.

Manish

Manish (Expert)
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30 November 2023 First, you need to add this demand paid challan.
See the process here -https://www.profzilla.com/articles/post/how-to-add-challan-to-tds-at-traces-online

After this addition, make another correction for adjusting balance 1% TDS with this challan.
For this, split the original deduction entry into two halves - with both having TDS @ 2%.
Adjust first half with original challan and second half with this demand paid challan.

Haren

Haren (Querist)
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11 December 2023 some how cause purpose we cannot submitted above Revised TDS return Till Date , So IT Department issue again Interest Demand , We also paid this Interest Demand amount
Now how to show short deduction Demand Paid Challan & interest paid challan ?
Note that those 02 Challan seperate Chllan no. and date

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