bhuvana (Accounts) (150 Points)
27 May 2008hi all.
am new to this club. hope tho not a CA, i too can participate here, since am in Accounts.
Can anyone tell me as to the time limit for filing of correction statement. We are gonna file correction statement for FY 2007-08 only tomm...will there be any prob ????
Shekar
(CA & LCS )
(1109 Points)
Replied 27 May 2008
Hi Bhuvana..
If u have submitted the original return within duedate..then no problem in filing revised return now....
For more details visit : www.tin-nsdl.com/RevisedReturns.asp
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 27 May 2008
Ms. Bhavna,
Pls clearly tell me is there any wrong in filing the TDS return., Mr. Shekar submitting TDS return in due date is don't mean that there is no proble.
U May Face the following.
Any wrong payment in TDS - Pls pay the different with Penalty
If found any correction in TDS return pls filed correction return immediately. b'cos u have to submit to the party for whome u deducted TDS., with ack. no.
Pls not to be careless for TDS or any Revised Return.,
Sangeeta Mehta
(Job)
(31 Points)
Replied 28 May 2008
bhuvana
(Accounts)
(150 Points)
Replied 28 May 2008
thanQ shekar ji....
thanQ azmath ji...
the error in the original return was - instead of filing in the name of the Co. we filed it in the name of the individuals. So, now need to file a correction statement changing the status & pan of the deductee...
now i understood abt the time limit..since TDS certificate has to be issued for enabling them to file their returns, we have to file the correction statement at the earliest...rite ???
thanks ji...
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 28 May 2008
Ms. Bhavna,
While filing the return u have given the individual no., - I have a doubt that the PAN u have written is Co., Pan or Individual Pan.
Please visit https://tin.nsdl.com/ to verify your return under quarterly challan Status. or Visit https://onlineservices.tin.nsdl.com/TIN/JSP/tds/linktoUnAuthorizedInput.jsp
If any thing un matched then file the revised return and issue the fresh form 16A while taking the earlier Pan.
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 28 May 2008
Ms. Sangeeta Just pay the penalty and do nothing.
bhuvana
(Accounts)
(150 Points)
Replied 29 May 2008
yeah azmath ji...we had quoted the individual's name & PAN and status. Now have changed it to the Co's name and PAN. ThanQ :)
btw, i think therez no penalty for late remittance if it is one or two days...it will only reflect in the Tax Audit report...rite ???
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 10 June 2008
Ms. Bhavna
The Suggestion for Late payment of Panelty is for Ms. Sangeeta.
Thx for Ur feed back, any thing pls email me
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 10 June 2008
Ms. Bhavna
The Suggestion for Late payment of Panelty is for Ms. Sangeeta.
Thx for Ur feed back, any thing pls email me,
find attach the form 16A & 16
CA Rahul Gupta
(Ca )
(57 Points)
Replied 11 June 2008
as such there is no time limit for filling the correction statement
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 11 June 2008
Mr. Rahul
The limit is for issue of certificate form whom we have deducted, therefor the return should be submitted on or before the time limit.
Don't think that no time limit for filling the correction statement, time limit is for issue of TDS certificate.,
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