Follow the steps mentioned below in case of Late Payment Intimation Received: The default amount will have to be deposited through challan number ITNS – 281 by ticking minor head ‘400’ Add Challan to statement (C9 correction) using “Online Correction Functionality” available on TRACES as C9 correction has been stopped in Offline Correction For closure…
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…
The following are the basic principles of TDS compliance: Deduction/ Collection of Tax at Correct Rates Timely Deposit of Tax Deducted at Source Accurate Reporting of data related to tax deductions/ collections made Submission of TDS return within the due dates Verification and Issuance of TDS Certificates within time CPC (TDS) is now sending “Intermediate…
CPC(TDS) reminder communication to banks regarding closure of defaults in Quarterly TDS Statements from Financial Year 2007-08 onwards. The issued communication has been given below: The Principal Officer Name: XXXXXXX TAN: XXXXXXXXXXXX Please refer to the earlier CPC(TDS) Communication regarding defaults in TDS Statements for different TAN’s associated with your PAN. The Centralized Processing Centre…
Dear Deductor, As you may be aware by now that the Centralized Processing Cell (TDS) is informing you of PAN and Challan Errors, through an Intermediate Communication, during processing of Original Quarterly TDS Statements, before Defaults are finally computed and Intimations are generated. On receipt of the above communication, you are encouraged to take corrective…
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS/TCS statements 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 information…
Healthy practices for error – free TDS returns has been given below: Deduction/ Collection of Tax at Correct Rates. Timely Deposit of Tax Deducted at Source. Accurate Reporting of data related to tax deductions/ collections made. Submission of TDS Statements within the due dates. Verification and Issuance of TDS Certificates within time. CPC (TDS) is…
CPC (TDS) has issued a communication to deductors in which it has stated about a significant change in processing of Quarterly TDS Statements. The central point in the new process is identifying errors in challan/ PANs and facilitating their corrections before CPC (TDS) computes defaults in TDS statements. The issued communication has been given below:…
Deductors can correct two type of errors online after registration of digital signature. 1. Online correction of challan. 2. Online correction of PAN. Now TDSCPC website have given facility to correct challan without registering digital signature. First deductor have to register a request for correction of particular return and then they have to check its…