Urgent__Tds return online correction

Save Share

This query is : Resolved

Quick Summary

If you've filed your company's TDS return and missed updating lower deduction details for a party, leading to a short deduction notice and interest, you can rectify this by filing a revised TDS return. The process involves an online correction, and you should not need to pay the interest again. This correction will also reverse any TDS demand showing in your account.

Ninad kolankar

Ninad kolankar (Querist)
Follow

04 June 2023 Dear Experts,

I have filled my company's tds return for q4. I have failed to update the lower deduction details of one party. And hence now i have received the notice for short deduction along with the interest. Need to how how to rectify this and also am I required to pay interest again??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

04 June 2023 File revised TDS return.
No need to pay interest again.

Message likes : 1 times

Ninad kolankar

Ninad kolankar (Querist)
Follow

04 June 2023 Thank You Sir for the answer.
Can I do online correction and add the details of the lower deduction of the party??
Also once the correction is done the TDS demand showing in my Account will get reversed??

Ninad kolankar

Ninad kolankar (Querist)
Follow

04 June 2023 Also i am not required to pay interest for the error??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

04 June 2023 Yes do online correction no need to pay interest.

Ninad kolankar

Ninad kolankar (Querist)
Follow

04 June 2023 Thank you so much sir!!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

05 June 2023 You are welcome..
...