Tds query

This query is : Resolved

Jagdish panchal (Querist)

08 July 2020 What happens if we file Tds return, and subsequently Deductee claim full refund of same. and subsequently we wish to change Deductee. in such whats its implification.
1)Whether we can revise deductee information even thought deductee already claimed refund of Tds.

2)If we can change deductee pan whats implification on deductee's hand, whether after revision of tds return, tds amount will disappered from deductee's 26AS and whether he need to pay tax of equivalent amount.

Thanks all expert for reply.

Message likes : 1 times

VIKASH KUMAR

VIKASH KUMAR (Expert)

09 July 2020 TDS return is required to be filed quarterly
For example for April 19 to june 19 due date of filing tds return is 31 july 2019

you have to 4 tds return for a F.Y

After completion of f.y all assesee is required to file their income tax return
(For F.Y 2019-20 return filing start from 1April 2020 and upto 30th Nov 2020)
while filing the income tax return assessee can claim refund of credit of tax reflected in their 26AS

You can revise tds return up to the assessment of deductee practically, even though there is no time limit specified for revision of tds return in income tax act.

once you place request for revision of tds return even after claiming refund by deductee then either your request will be rejected or you will get notice from income tax department

2.)you can not change deductee PAN once TDS return filed ,

please note that tds return for deductor and 26as for deductee both are interlinked and any discrepacy in such form leads to income tax notice to both party
it is advisable to coordinate with deductee in case there is genuine problem and try to correct returns only after considering both side i.e deductor and deductee.

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