Form 26QB -Paid TDS 122750

To resolve the discrepancy in your Form 26AS, where you've paid Rs. 75,000 as TDS but it's only reflecting Rs. 50,000, follow these steps¹ ²: - *Check Payment Details*: Verify that the payment was correctly made and reflected in the TRACES portal. Ensure the payment details, such as the challan number and payment date, match the records. - *Correction in Form 26QB*: Since you've already paid the TDS in September 2024, you can file a correction statement. While making the correction, you can show the total current amount as Rs. 75,00,000 (if that's the correct value) and adjust the TDS amount accordingly. -

*Contact the Income Tax Department*: If the issue persists after filing the correction statement, reach out to the Income Tax department or the TRACES helpdesk for assistance. They can guide you through the process or provide a solution to rectify the discrepancy. - 

*Verify Form 26AS*: After filing the correction statement, check your Form 26AS again to ensure the correct TDS amount is reflected.

 The unclaimed TDS amount should be updated once the correction is processed. Important Points to Consider:

- *Late Filing Fee*: Be aware that delaying the correction might attract a late filing fee of Rs. 200 per day, capped at the TDS amount.

 - *Interest on Late Payment*: If the TDS payment is delayed, interest might be applicable, calculated from the date of deduction to the date of payment. -

 *Documentation*: Keep records of all payments, correction statements, and correspondence with the Income Tax department for future reference.