Mismatch in Form 26QC and Form 16C. Incorrect Form 16C generated in TRACES.
This query is : Resolved
Quick Summary
10 May 2024
For the first time we find that From 16C generated under TRACES is much lower that the Rent paid/Payable and Tax deposited as per Form 26QC.
Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!
Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.
Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!
Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.
Dhirajlal Rambhia
(Expert)
21 May 2024
Raise Grievance on TRACES with screenshot.
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21 May 2024
Thanks Mr Rambhia as I dont have a TAN and use my PAN TRACES does not allow me to raise a grievance. It is unlikely that I am the only one impacted by this and thus am wondering if any one else has also been impacted. It may be a system upgrade which is causing this ? Any other thoughts on where to complain.
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Dhirajlal Rambhia
(Expert)
21 May 2024
Login with PAN on e-filing site, and raise grievance, someone will have to raise the complaint.
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Dhirajlal Rambhia
(Expert)
21 May 2024
You are welcome.
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