TDS on salary 92B

This query is : Resolved

Quick Summary

A TDS challan paid under the wrong AY generally cannot be directly used for Q4 FY 2022-23 filing unless corrected. Online challan correction through TRACES or AO may be required. Correct AY mapping is important for Form 16 Part A and 26AS credit reflection.

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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03 May 2023 While making payment of TDS u/s 192B AY 2022-23 was selected instead of AY 2023-24 and was paid

My question is
whether this challan can be used for filing etds return of Q4 of FY 22-23
Also if it can be used whether Form 16 PART A will show credit for the TDS paid and Form 26AS of Payee will reflect this TDS ?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 May 2023 No, it can't be used.
Apply for challan correction with your jurisdiction AO.

PARAS CHHAJED

PARAS CHHAJED (Expert)
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04 May 2023 You can very well use this challan in your TDS statement +/- year in assessment year in challan is permitted. You may also go for online correction in challan by logging on TRACES site.

PARAS CHHAJED

PARAS CHHAJED (Expert)
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04 May 2023 Challan paid under one section may be used for TDS under the other section as sell. One single challan may be adjusted with multiple deductions under multiple sections without any problem as of now.

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