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Short deduction in tds

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)

25 June 2014

i have paid the short deduction amount. now how do i revise my tds return to give credit to employees of the amount short deducted???

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7 Replies

CA Nitin K. Varshney (FCA DISA CCA Peer Reviewer (ICAI)) (616 Points)
Replied 25 June 2014

dear tribhuvan,

first of all you should pay the diffrence TDS amount with interest. then correct the TDS data in your software and make request for the consolidated FVU file on traces. after 2 or 3 hrs file is available then update ur local data with the consolidated fvu file. then generate the reports and file revise tds return online.

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Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 25 June 2014

i have paid the amount, conso file has also been downloaded. i am facing problem in making entry while revising the return. i have filled the amount of short deduction for each employee in column of "tds deducted" but what should i fill in "amount paid/credited".

CA Abhishek Goyal (Chartered Accountant) (516 Points)
Replied 25 June 2014

Hello... First of all you have to change the credit amount earlier entered by you.. Let us take an e.g. which gives u clarity. If credit amount is 1000 nd tds rate is 2% bt u deduct only 1% i.e only 100 instead of 200. So here u alter the credit amount by updating the challan in rpu. So enter 500 rs. In existing deductee nd so that ur tds amount us matched with 2% nd balance 500 enter in new row with ur short deducted amount.. Regards... Abhishek Goyal

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 26 June 2014

@ abhishek goyal.. i understood clearly... but what you explained will be applicable in case of 26q but mine is the case of 24q. so can i do the same in 24q also??? plss reply.

ganesh ramchandra purekar (auditor) (78 Points)
Replied 26 June 2014

abhishek Sir if I m not wrong 2% of Rs 1000/- is 20/- not Rs 200/-

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CA Abhishek Goyal (Chartered Accountant) (516 Points)
Replied 26 June 2014

Ya Mr.Tribhuvan. you can...but i suggest you to call to TDSCPC for this issue..cz this dept.will raise query in small matters also..so better is to call in tdscpc nd demand the solution.they will give you excate solution.. Mr.ganesh..its just example which i give for clarity in the topic..this are not the actual amount..so u just concern with concept only...thanks..regards..

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 26 June 2014

i had called but did not receive any satisfactory reply. after that i posted my query here. anyways i will follow the way you suggested. thanx for your reply.