I mistakenly paid the TCS of scrap u/s 206C to be paid under 6CE code in 194 C TDS for payment to contractors. The online correction under Traces is only for one section of TDS to another.
Is there any way to transfer the challan from TDS to TCS.
Replies (3)
Quick Summary
This discussion addresses a common error where TCS (Tax Collected at Source) was mistakenly paid under a TDS (Tax Deducted at Source) code. The user paid TCS under section 206C using the 194C code for TDS payments to contractors. Unfortunately, the online correction facility on TRACES only allows transfers between TDS sections, not between TDS and TCS. The advice given is that immediate contact with the bank might offer a solution, but otherwise, correcting this specific type of challan error appears to be very difficult.