Correction of tds return
This query is : Resolved
25 February 2014
Hai !
I need to file a correction statement of tds for form 27Q.Please guide me to clarify my doubts on the same.
1) Do we need to make corrections in the conso file downloaded from traces or a new form with corrections can be made?
2)Mistakes detailed in justification report were pan errors and interest for late payment. Interest has been paid. But the minor head insted of "400 - raised by dept " bank on payment of physical chellan reported as " 200 - regular assment ". how can it be rectified?? chellan was paid on 31/01/2014. when consulted with bank to rectify mistake they said as can't do anything by them.
How can this be rectified?
Please guide me.
Thank you.
I need to file a correction statement of tds for form 27Q.Please guide me to clarify my doubts on the same.
1) Do we need to make corrections in the conso file downloaded from traces or a new form with corrections can be made?
2)Mistakes detailed in justification report were pan errors and interest for late payment. Interest has been paid. But the minor head insted of "400 - raised by dept " bank on payment of physical chellan reported as " 200 - regular assment ". how can it be rectified?? chellan was paid on 31/01/2014. when consulted with bank to rectify mistake they said as can't do anything by them.
How can this be rectified?
Please guide me.
Thank you.
CA Sagar K Dhoot
(Expert)
25 February 2014
Hi
1. In order to to file correction statement of TDS you have to make corrections in the conso file downloaded from TRACES.
2. You should have pay interest under head 400. However now option left with you is that either pay interest again under head 200 or else show the interest payment in correction statement as of under head 200. If suppose in future any notice comes to you for the same you can give a simple letter stating that it was a clerical mistake which is a genuine reason.
1. In order to to file correction statement of TDS you have to make corrections in the conso file downloaded from TRACES.
2. You should have pay interest under head 400. However now option left with you is that either pay interest again under head 200 or else show the interest payment in correction statement as of under head 200. If suppose in future any notice comes to you for the same you can give a simple letter stating that it was a clerical mistake which is a genuine reason.
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26 February 2014
Thank you sir..
Is there any time limit to file the correction statement?
Is there any time limit to file the correction statement?
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CA Sagar K Dhoot
(Expert)
26 February 2014
Hi,
There is no time limit given by Income Tax Act, 1961 to file TDS correction statement.
There is no time limit given by Income Tax Act, 1961 to file TDS correction statement.
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