Overboking on account of double filing of tds return

TDS 348 views 4 replies

narinder kumar

3 Points Joined June 2017

In my institution in some of employees 16 A form is showing O overbooked status due to double filling of same tax deduction data for jan 2017. that is tax deducted and deposited in jan 2017 once but by mistake that amount of tax is filled in TDS return filled for Quater oct-dec 2016 as well as in TDS return of Jan-March 2017 quater. Now notice from income tax departement ha been recieved , ime of 7 days has also been elapsed and 16 a form are collected from CA who filled it.

PLEASE SUGGEST WHAT CAN BE DONE NOW TO RECTIFY THIS MATTER , ALSO TELL ME WHAT WILL BE PENALTY FOR IT

Replies (4)

Guest

tds return can be revise if more tds paid it can be adjust in next payment

but if less pay u have to pay it and revise it accordingly

narinder kumar

3 Points Joined June 2017

What if TDS is not paid then what will be its cosequences

ujjaishravan

accountant

212 Points Joined August 2011

No need of pay extra if and only if there is no deduction. Just because of Mentioning a challan in two different returns or twice in a single return, causes over booking error, if you try to consume over and above the challan balance. In your case the challan mentioned in two different return. revise the return in which short payment default appears. You cannot delete any challans or Deductee details in the default return. However you can edit the "amount paid" and "TDS deducted" columns. Change whatever the number in "Amount paid" and "TDS deducted" columns to 10 and 0 respectively in all the rows. and delete the date of deduction column. then file the return..
the Short payment penalty will be veilded off.

ujjaishravan

accountant

212 Points Joined August 2011

very important phenemenon, don file this kind of correction return in E-filing TDS login portal. Try TRACES online correction if the return pertaining to 2013-14 onwards otherwise TIN-FC of NSDL is the best option