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Tds in 26as after assessment - rectification or rev return?

Prashant (Director) (40 Points)

10 March 2015

One of our Clients had deducted TDS pertaining to AY 2014-15 (FY 13-14) but had not paid it. Since the TDS amount it was not reflecting in 26AS, we didn't claim it. He has now paid the same, and the amount is now reflecting in our Form 26AS.

Meanwhile, our assessment has been done, and necessary order has been issued by CPC. To claim the TDS paid by Client (which is now reflecting in form 26AS), should I file an online application for rectification u/s 154 or should I file revised return ? Also, if I've to file application u/s 154, since number of TDS certificates exceeds 10, I may have to upload the return with updated schedule for TDS. In the said return, should I mention the type of return 'O' (original) with same old date for filing original return ?

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6 Replies

chandar (Deputy Manager-Accounts) (296 Points)
Replied 10 March 2015

when he has paid the same??

If your client has paid the same in the next financial year you can claim that in that F/Y only.

Prashant (Director) (40 Points)
Replied 11 March 2015

He has paid it in November 2014, and the same is reflecting in AY 2014-15 (FY 2013-14) in form 26AS.

Can I claim that amount in ITR for FY 2014-15 (AY 2015-16) ?

MAHESH (Tax Consultant) (114 Points)
Replied 11 March 2015

Dear Prasanth,

file rectification petition online and claim the tds.

Prashant (Director) (40 Points)
Replied 11 March 2015

Thank a lot, Mr. Mahesh.

I shall greatly appreciate, if you could also guide me regarding other two points I had mentioned in my earlier querry - i.e. shall I

i) add one new entry in schedule TDS &

ii) retain all other details like the status of return as 'Original' and original date of filing,

for generating .X M L file to be uploaded during online rectification process u/s 154 ?

Regards

Prashant

MAHESH (Tax Consultant) (114 Points)
Replied 11 March 2015

Dear Prasanth,

follow the "Taxpayer Correcting Data for Tax Credit mismatch only" type of rectification in your case.

Procedure for rectification given here...........

Step 1 - LOGIN to e-Filing application and GO TO –> My Account –> Rectification request.

Step 2 - Select the Assessment Year for which Rectification is to be e-Filed, enter Latest Communication Reference Number (as mentioned in the CPC Order), and Latest CPC Order Date (as mentioned in the CPC Order).

Step 3 – Click ‘Submit’.

Step 4 – Select the ‘Rectification Request type’

–> ‘Taxpayer Correcting Data for Tax Credit mismatch only’ − On selecting this option, three check boxes, TCS, TDS, IT, are displayed. You may select the check-box for which data needs to be corrected. You can add a maximum of 10 entries for each of the selections. No upload of an Income Tax Return is required.

–> ‘Taxpayer is correcting the Data in Rectification’ − select the reason for seeking rectification, Schedules being changed, Donation and Capital gain details (if applicable), upload XML and Digital Signature Certificate (DSC), if available and applicable. You can select a maximum of 4 reasons

–> ‘No further Data Correction required. Reprocess the case’ − On selecting this option, three check-boxes, Tax Credit mismatch, Gender mismatch, Tax/ Interest mismatch are displayed. You may select the check-box for which re-processing is required. No upload of an Income Tax Return is required.

Step 5 – Click the ‘Submit’ button.

Step 6 – On successful submission, an Acknowledgment number is generated and sent for processing to CPC, Bangalore.

Prashant (Director) (40 Points)
Replied 12 March 2015

Many thanks, Mr. Mahesh for the guidance.

After selecting ‘Rectification Request type’ –>

I can't use ‘Taxpayer Correcting Data for Tax Credit mismatch only’ − as entire TDS schedule needs to be entered intp and total number of TDS certificates in my case are more than 10.

I therefore have to use next option - i.e. –> ‘Taxpayer is correcting the Data in Rectification’ − for which I've to prepare & upload XML file.

My only querry now is whether should I use the option 'Original' return or 'Revised' return while preapring the new XML file with revised TDS schedule. Shall greatly appreciate if you could advise me on this.

Warm Regards.

Prashant