Error in section code selection on tds remittance

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2015 Issue :

Regd: Form 26Q

Instead of remitting TDS U/S 194J, remittance was made U/S 194I.

Queries:

(1) How to rectify the challan amount under the respective head ?! for old period.

(2) Will the deductee get the credit of the amount remitted towards his PAN under his Form26AS for the amount remitted under different section code.

Note: In this case , TDS rate applicable remains same ,irrespective of change in section code.

Kindly address, pls

CA ANILKUMAR B.COM ACA DISA

CA ANILKUMAR B.COM ACA DISA (Querist)
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08 April 2015 Please refer challan correction mechanism available in TIN NSDL website. Whatever be the section code , it will reflect in 26AS of the deductee as it is PAN based. It is better to correct the challan to avoid future consequences.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 April 2015 You need not worry for the same. What you need to do is to mention the correct section number in the deductee sheet. As per new rules TDSCPC doesnt match challan section code. It matches section code written in deductee sheet with rate of TDS deducted challan no. If you mentioned section code 194I the challan, just show the correct section in deductee sheet i.e., section 194J and CIN no of challan. There will not be any issue.

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