Tds Rectification

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This query is : Resolved

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This discussion addresses how to rectify incorrect TDS deductions made under Section 194C for contractor payments. The user initially deducted and deposited TDS, but the payment was later reversed. The advice confirms that the TDS amount can be corrected to zero via a conso file and the unconsumed TDS can be utilised in the following financial year. However, the user encountered issues deleting an already matched deductee entry. The suggestion is to attempt online correction to resolve this.

Harish Thanvi

Harish Thanvi (Querist)
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15 July 2022 Dear Sir,
Please solve my query about Tds . Earlier i have deducted Tds u/s 194C and deposited and File Tds return ( Qtr. 3rd Tds Fy .21- 22) against payment to Contractor. Due to some inernal reason in march 2022 whole of payment of vendor reversed. In that case please guide me to correct Tds amount from Rs 2000/- to Rs.0/- through conso file and further can i utilised this unconsumed Tds amount of Rs 2000/- FY 2022-23.
Thanking You,
With Regards,
Harish Thanvi

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 July 2022 Yes, you can correct Tds amount from Rs 2000/- to Rs.0/- through conso file and further you can utilise this unconsumed Tds amount of Rs 2000/- FY 2022-23.

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Harish Thanvi

Harish Thanvi (Querist)
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16 July 2022 Thanku CA R Seetaraman ji
But I am not able to delete the existing deductee entry in my Conso File as it is matched already. Even if I enter zero amount in Gross Amt Paid, TDS Amt, rate of deduction they are not accepting it as error is displayed while validating the said file.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 July 2022 It's possible to correct it try online correction.

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