Dear Buyer of Immovable Property, The Centralized Processing Cell (TDS) is pleased to inform the release of Online Correction facility for TDS statements filed in form 26QB, with respect to tax deducted at source on transfer of Immovable Property exceeding Rs. 50 Lakhs. The Online Correction facility at TRACES can be used for closure of…
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online correction: View default summary Rectifying challan mismatch cases Addition of new challan to the statement Pay 220/interest/levy Add or Delete Salary Detail Rectifying statement challan…
CPC (TDS) has observed from its records that Online Corrections have been submitted by deductors on TRACES by using Digital Signature Certificate but there are no Registered Digital Signature Certificates (DSC) available currently in their profile. CPC (TDS) has issued an advisory communication in this regard which has been given below: Dear Deductor (TAN) As…
As per the latest development in the TRACES, the following types of corrections can also be done directly from the TRACES website: 1. PAN Correction 2. Challan Correction The existing system of preparing and filing correction return will also continue without any change. Online corrections can be done in the following simple steps: 1. Login…
Online Income Tax Return filing can be done in two ways: (1) Without Digital Signature, wherein the XML is uploaded on the server of IT department, and then the ITRV is posted to CPC Bangalore, and (2) With Digital Signature, wherein the XML is uploaded with the digital signature, and thus there is no need…