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TDS

student (WORKING) (757 Points)

12 May 2011

WHETHER THERE IS ANY TIME LIMIT FOR FILING REVISED TDS RETURN [ E TDS CORRECTION STATEMENT]............
WHERE IT IS MENTIONED?

AFTER UPLOADING OF E TDS RETURN BY E TDS INTERMEDIARY , IF THERE IS ANY MISMATCH THEN AUTOMATICALLY A NOTICE U/S 201 IS GENERATED OR WHAT FOR DEFAULT IN REPYMTS???

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12 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 12 May 2011

ncome Tax Act, 1961

Section 201. CONSEQUENCES OF FAILURE TO DEDUCT OR PAY.

(1) If any such person and in the cases referred to in section 194, the principal officer and the company of which he is the principal officer does not deduct or after deducting fails to pay the tax as required by or under this Act, he or it shall, without prejudice to any other consequences which he or it may incur, be deemed to be an assessee in default in respect of the tax :

Provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the Assessing Officer is satisfied that such person or principal officer or company, as the case may be, has without good and sufficient reasons failed to deduct and pay the tax.

(1A) Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest at eighteen per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid.

(2) Where the tax has not been paid as aforesaid after it is deducted, the amount of the tax together with the amount of simple interest thereon referred to in sub-section (1A) shall be a charge upon all the assets of the person, or the company, as the case may be, referred to in sub-section (1).

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 12 May 2011

Can I correct e-TDS/TCS annual return?
Yes, corrected e-TDS/TCS returns can be filed. You can file corrected e-TDS/TCS return on account of any rectification or after incorporating missing PAN(s) details with any TIN-FC.

What is the manner of submission of corrected annual e-TDS/TCS return?
In case you are submitting corrected annual e-TDS/TCS return, you should file the entire e-TDS/TCS return (and not only the amendments to the e-TDS/TCS return) alongwith all the documents submitted at the time of filing original e-TDS/TCS return. You should also file a copy of the Provisional Receipt issued earlier for the original e-TDS/TCS return alongwith the corrected e-TDS/TCS return. You should also mention on the top right hand corner of Form 27A that e-TDS/TCS return being filed is on account of any rectification other than missing PAN(s) or on account of incorporation of missing PAN(s).

Can I file the corrected annual e-TDS/TCS return with any TIN-FC?
You can file the corrected e-TDS/TCS return at any TIN-FC.

Do I have to pay upload fee for filing corrected annual e-TDS/TCS return?
Yes. Upload fee is payable for each and every e-TDS/TCS return accepted by the TIN-FC, irrespective of whether it is a corrected e-TDS/TCS return or an original e-TDS/TCS return.

Will the TIN-FC give any acknowledgment/receipt after acceptance of corrected e-TDS/TCS return?
Yes, TIN-FC will issue a Provisional Receipt in case corrected e-TDS/TCS return file is valid and accepted by the TIN-FC. The Provisional Receipt issued by TIN-FC is deemed to be the proof of corrected e-TDS/TCS return filed by you.

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 12 May 2011

D. Sample Files

For reference, sample files have been prepared as per the file formats (data structure) for Form 24Q under different scenarios, for correction of information submitted in the quarterly regular statements:

For statement pertaining to FY 2010-11 and onwards

Suresh Prasad (www.aubsp.com) (15630 Points)
Replied 12 May 2011

Originally posted by : EXCELLENCE
	WHETHER THERE IS ANY TIME LIMIT FOR FILING REVISED TDS RETURN [ E TDS CORRECTION STATEMENT]............ WHERE IT IS MENTIONED? AFTER UPLOADING OF E TDS RETURN BY E TDS INTERMEDIARY , IF THERE IS ANY MISMATCH THEN AUTOMATICALLY A NOTICE U/S 201 IS GENERATED OR WHAT FOR DEFAULT IN REPYMTS???

There is no time limit for revising your TDS return.

What happens if any of the control total mentioned in Form 27A not match with that in the e TDS return?

In such a case the e TDS return will not be accepted at the TIN Facilitation Centre.

What are the due dates for filing quarterly TDS Returns?

Quarter	Due Date	Due Date for 27 Q
April to June	July 15	14 July
July to September	October 15	14 October
October to December	January 15	14 January
January to March	June 15	14 June

(Guest)

there is no limit of revising the tds return

1 Like

(Guest)

Originally posted by : RADHEKRISHNA0001
	there is no limit of revising the tds return

Fully agree with RADHEKRISHNA, You can check the status of your TDS Returns on NSDL website simply by putting Your TAN & PRN No.

So, before filing any revise return just check the status of earlier Return. Make sure that CIN Date , Amount is exactly matching as it is showing in OLTAS View.

This will ensure that ur all challans will show status as " booked " & you will not get any notice from IT Dept u/s 201 for Short Payment.

2 Like

wazeer ahmed (Commercial Accountant M.Com) (243 Points)
Replied 12 May 2011

Hai Excellence.

Radhekrishna is rite. There is no limit of revising the TDS Return......

Duruva narayanan (student) (98 Points)
Replied 12 May 2011

For current Assessement year 2011-12, Jan-Mar(4th Qr) what is the last date for filing TDS quarterly return ( May15, 2011 or Jun 15, 2011)? Please clarify.