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)

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)

30 November 2023 File revised TDS return with the challan.

Manish

Manish (Expert)

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)

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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