Rectification of tds returns (salary)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 Dear Sir,

We want to recfity the TDS returns as we want to make an additional entry of the employee and also change a pan entry which was wrongly fed.

We use the etdswizard (fast facts) marketed by Tax print.

Please help with the procedure.

Regards
Viswanathan R

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2012 Download the consolidated TDS file from your TAN login at NSDL website and open the file by using through your TDS correction software and you have the option to correct the same return there

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Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2012 Dear Sir,

Thanks for the information. I downloaded the file which has the extention .tds and also managed to open the file which is in the form of a text file. however i am unable to proceed further.the option for direct saving is also not there . Please tell me whether this file has to be saved in any particular format/extention and then what is the procedure. Also it shows only the details of the employees , what if we have to make changes in the challan sheet also.as i had mentioned we have the etdswizard (fastfact) utility for tds returns.

Kindly help.

Regards

viswanathan

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 July 2012 you need to open the .TDS file in the correction software. do not use the text file.

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2012 Thank you very much for your immediate response. I was successfully able to download /open the .tds file in the correction software.

I have got one more query w.r.t to tds. Dafault has been shown against the Salary tds return the fin year 2010-11 and on opening the excel file it shows some interest payment due to late payment of tds to the government. Now we pay this interest amount, what is the procedure ? Is it enough if the challan mentioning the interest payment is send to the tds office or is there any other thing to be done?

Please reply?

Also the excel file mentions the details as follows:
Date of Deduction 31/03/2011
Date of Deposit 24/06/2011
Due Date 30/04/2011
Months of Default 3

In my opinion it should be 2, as it should be from the due date ie 30/04/2011 - 30/06/2011.

Awaiting your Reply

Thanks & Regards

Viswanathan R

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 July 2012 on default notice you need pay the interest and update the particular period return with adding interest paid challans

In income tax you cannot calculate day basis interest, it mentioned as month or part of the month from the date of deduction. in my opinion it should be 4 months because date of deduction is 31/3/2011 so March 1 month & April 1 Month & May 1 month & June 1 month. but the defaults shows 3 months, may be they not considered March. so pay 3 months interest