TDS ISSUEE
This query is : Resolved
20 November 2021
Dear Sir,
What is an OVERBOOKED CHALLAN ?
What is a booked challan ?
What are the details of challan in 26-Q that can be corrected ?
TDS RETURN has been filed and processed fully & finally but the amount of challan has been wrongly mentioned. How to make correction in challan amount.\
Please guide me and oblige.
TARIQUE RIZVI
What is an OVERBOOKED CHALLAN ?
What is a booked challan ?
What are the details of challan in 26-Q that can be corrected ?
TDS RETURN has been filed and processed fully & finally but the amount of challan has been wrongly mentioned. How to make correction in challan amount.\
Please guide me and oblige.
TARIQUE RIZVI
20 November 2021
What is overbooked challan?
Payment details of TDS/TCS deposited in bank by deductor have matched with details mentioned in the TDS/TCS Statement but the amount is over claimed in the Statement. Overbooked challan will be highlighted in blue colour.
What is unmatched challan?
Deductor have not deposited taxes or have furnished incorrect particulars of tax payment. Unmatched challan will be highlighted in red colour
Payment details of TDS/TCS deposited in bank by deductor have matched with details mentioned in the TDS/TCS Statement but the amount is over claimed in the Statement. Overbooked challan will be highlighted in blue colour.
What is unmatched challan?
Deductor have not deposited taxes or have furnished incorrect particulars of tax payment. Unmatched challan will be highlighted in red colour
20 November 2021
For unmatched challans, update is allowed in all fields.
For matched/overbooked challans, update is allowed only on fields ‘Section code’, ‘Interest amount (col. no. 20)’ and ‘Others amount (col. no.21)’.
For overbooked challans, TDS credit, or apportioning of interest amount should be adjusted to the extent of overbooked amount.
A single challan can be utilized across all Forms (i.e. Form 24Q, 26Q, 27Q & 27EQ). Challan date can be any date on or after 1st April of immediate previous financial year for which the return is prepared
For matched/overbooked challans, update is allowed only on fields ‘Section code’, ‘Interest amount (col. no. 20)’ and ‘Others amount (col. no.21)’.
For overbooked challans, TDS credit, or apportioning of interest amount should be adjusted to the extent of overbooked amount.
A single challan can be utilized across all Forms (i.e. Form 24Q, 26Q, 27Q & 27EQ). Challan date can be any date on or after 1st April of immediate previous financial year for which the return is prepared
20 November 2021
In case only PAN of the deductee record is to be updated then select option “PAN Update”, otherwise select “Update” option to update other details if required.
In case of 'C' (i.e. for higher deduction) remark in Deductee details (Annexure I), only below details will be allowed to be updated in correction statements:
•Deductee PAN
•Name of deductee (Applicable to all Forms)
•Section code (For statements pertains to FY 2013-14 onward and for all Forms)
•Nature of remittance (Applicable only for Form 27Q)
•Unique acknowledgement of the corresponding form no. 15CA (if available) (Applicable only for Form27Q)
•Country of Residence of the deductee (Applicable only for Form27Q)
•Grossing up indicator (Applicable only for Form27Q)
•Date of deduction (Applicable to allForms)
•Deductee/Employee ReferenceNumber
•Amount ofPayment
•Date ofPayment
•Whether TDS rate of TDS is IT act (a) and DTAA (b) (applicable only for Form27Q).
In case of 'C' (i.e. for higher deduction) remark in Deductee details (Annexure I), only below details will be allowed to be updated in correction statements:
•Deductee PAN
•Name of deductee (Applicable to all Forms)
•Section code (For statements pertains to FY 2013-14 onward and for all Forms)
•Nature of remittance (Applicable only for Form 27Q)
•Unique acknowledgement of the corresponding form no. 15CA (if available) (Applicable only for Form27Q)
•Country of Residence of the deductee (Applicable only for Form27Q)
•Grossing up indicator (Applicable only for Form27Q)
•Date of deduction (Applicable to allForms)
•Deductee/Employee ReferenceNumber
•Amount ofPayment
•Date ofPayment
•Whether TDS rate of TDS is IT act (a) and DTAA (b) (applicable only for Form27Q).
20 November 2021
The following are the various statuses of challans in a TDS/TCS statement:
Booked: Challan / transfer voucher detail in the statement matches with corresponding details received from banks / PAO.
Match Pending: Corresponding challan details not received from the bank.
Match Failed (Challan): TAN and/or amount relating to a challan in the statement do not match with the corresponding details received from banks.
Match Failed (Transfer Voucher): Amount relating to a transfer voucher does not match with corresponding details received from PAO.
Provisionally Booked: In case of Government deductors where TDS/TCS statement is received by TIN and mode of payment of TDS/TCS is through book entry (transfer voucher) and e-TBAF details from PAO is not received by TIN.
Booked: Challan / transfer voucher detail in the statement matches with corresponding details received from banks / PAO.
Match Pending: Corresponding challan details not received from the bank.
Match Failed (Challan): TAN and/or amount relating to a challan in the statement do not match with the corresponding details received from banks.
Match Failed (Transfer Voucher): Amount relating to a transfer voucher does not match with corresponding details received from PAO.
Provisionally Booked: In case of Government deductors where TDS/TCS statement is received by TIN and mode of payment of TDS/TCS is through book entry (transfer voucher) and e-TBAF details from PAO is not received by TIN.
20 November 2021
If the challan is in Booked status, credit of tax deducted will be reflected in the annual tax statement (Form 26AS) of all the underlying deductees with a valid PAN.
Correction in challan details is not allowed once a challan is booked. Correction can be made on underlying deductee records of a booked challan.
A challan is in Match pending status as the CIN is not present in the payment information provided by the Bank. As a result the credit of tax deducted will not be reflected in the Form 26AS of corresponding deductees with valid PAN.
The possible cause could be due to error in quoting CIN details (Challan serial no., BSR code and challan tender date) either in the TDS statement or in the details provided by the Bank. Error in TDS statement can be rectified by filing a correction statement, where as error.
A challan is in Match failed status as the TAN/challan amount in the statement does not match the details provided by the Bank. As a result the credit of tax deducted will not be reflected in Form 26AS of corresponding deductees with valid PAN.
The possible cause could be error in quoting challan amount. The same can be rectified by filing a correction statement.
If the challan is in Booked status, credit of tax deducted will be reflected in the annual tax statement (Form 26AS) of all the underlying deductees with a valid PAN.
Correction in challan details is not allowed once a challan is booked. Correction can be made on underlying deductee records of a booked challan.
A challan is in Match pending status as the CIN is not present in the payment information provided by the Bank. As a result the credit of tax deducted will not be reflected in the Form 26AS of corresponding deductees with valid PAN.
The possible cause could be due to error in quoting CIN details (Challan serial no., BSR code and challan tender date) either in the TDS statement or in the details provided by the Bank. Error in TDS statement can be rectified by filing a correction statement, where as error.
A challan is in Match failed status as the TAN/challan amount in the statement does not match the details provided by the Bank. As a result the credit of tax deducted will not be reflected in Form 26AS of corresponding deductees with valid PAN.
The possible cause could be error in quoting challan amount. The same can be rectified by filing a correction statement.
20 November 2021
For detailed procedure refer:: https://cleartax.in/s/tds-challan-correction
https://www.incometaxindia.gov.in/Pages/tax-services/tds-correction-statement.aspx
https://www.incometaxindia.gov.in/Pages/tax-services/tds-correction-statement.aspx
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