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Tds correction against short deduction

SARAN KUMAR (Accountant) (102 Points)

20 October 2015

Dear,

I have paid Rs.1,00,000/- to a contractor( Partnership Firm)(194C) on 26-10-2013. But I had deducted TDS Rs.1000( 100000*1/100=1000) instead of 1,00,000*2/100=2000. Now I have received a notice from Traces against short deduction. Then I have paid the balance of Rs.1000 though net banking with interest.My doubt is how can I correct the statement????? Please help me I am new in with this field..

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17 Replies

CMA Poornima Madhava (CMA) (13112 Points)
Replied 20 October 2015

https://www.tin-nsdl.com/etds-etcs/faq-etdrevised.php

https://www.tin-nsdl.com/etds-etcs/eTDS-RPU.php

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Shloka (Deputy manager (Finance)) (48 Points)
Replied 20 October 2015

Hi, May be the following can be useful:

1. Login to Traces-Go to Defaults Menu-Select Request for Correction Tab-Enter Particulars and follow the procedure-Click Add challan option and select the challan (Amount paid with interest) from the drop down.

2. After successful addition of the challan a token number will be generated and request will be sent to ITD. Check the status of the same by -Go to Defaults Menu on Home page-Track Correction tab. It takes normally 24 hours to update the status to "Processed" mode.

3. Once the status is changed to Processed mode, download the consol file from Traces, in this file you will be able to find the added challan, Make the necessary corrections and upload the revised return.

Further you can refer the detailed procedure on the Traces website under etutorials.

Thanks,

Shloka

2 Like

SARAN KUMAR (Accountant) (102 Points)
Replied 20 October 2015

Ok I know that steps. But my doubt is see the attachment. You can see the amount paid Rs.1,00,000/- and TDS rate is 1% ( actual rate is 2%). Then my doubt is what amount should is type for correcting the return?

Attached File : 1507671 20151020162310 untitled 1.pdf downloaded: 1016 times

Sahil Jain (Freelancing) (22 Points)
Replied 20 October 2015

You need to add that challan in revised return and correspondingly you need to enter details in deductee sheet

Amit Jha (Accountant) (22 Points)
Replied 20 October 2015

Next times you deduct correct rate and percent

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SARAN KUMAR (Accountant) (102 Points)
Replied 21 October 2015

(it's easier said than done......(sorry to professionals) this is how I do.... identify the record for which u recd. notice. reduce the paid amount by half (as you recd. notice for paying half of the payable amount) i.e 100000 to 50000 add this record say the paid amount is 50000 .......balance entries as usual. The govt. sends notices for short payment - it is not bothered to provide the software OR advise how to make necessary corrections.. in the link to tin-nsdl given above does not give .........???????? directions clear to solve the said problem),

Ok then after that how to nullify the balance Rs.50000? My doubt is I have already paid balance of short deduction with interest on september 2015 through online banking. Then how to add balance to statement? and what date should be enter ?

SARAN KUMAR (Accountant) (102 Points)
Replied 21 October 2015

(50,000 2 1,0000 + interest payment entry as usual) I understand that. But my doubt is

Sr. No.

Deductee Code (01-Company, 02-Other than Company)

PAN of the deductee

Name of the deductee

Date of Payment / Credit

Amount paid / credited Rs.

Paid by book entry or otherwise

TDS Rs.

Surcharge Rs.

Education Cess Rs.

Total Tax Deducted

SECTION CODE OF DEDUCTION

Rate of tax deducted

BSR code/ 24G receipt number

Date on which tax deposited

Transfer voucher / Challan serial No

AADFE589F

Ex Army Protective Security

WHAT DATE IS ENTER HERE( OLD DEDUCTION DATE OR NEWLY CHALLAN PAID DATE?)

50000

1000

194C

0150662

05-09-2015

00189

SARAN KUMAR (Accountant) (102 Points)
Replied 21 October 2015

Yes I have paid interest from that date. That is 26-10-2013 is payment date

keerthi (Student CA IPC / IPCC) (26 Points)
Replied 21 October 2015

My suggestion is 1st u log in to nsdl website and download the justification report. In tht u can find wht are all the amount to be paid for tht particular quater. To download tht justification report u have to give the challan details of already filed return.

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SARAN KUMAR (Accountant) (102 Points)
Replied 22 October 2015

					REGULAR TDS RETURN FILED


	Sr. No.	Deductee Code (01-Company, 02-Other than Company)	PAN of the deductee	Name of the deductee	Date of Payment / Credit	Amount paid / credited Rs.	Paid by book entry or otherwise	TDS Rs.	Surcharge Rs.	Education Cess Rs.	Total Tax Deducted	SECTION CODE OF DEDUCTION	Rate of tax deducted	BSR code/ 24G receipt number	Date on which tax deposited	Transfer voucher / Challan serial No
	1	02	AADFR7819J	Ex Army Protective Security( Partnership firm)	26-10-2013	100000	NO	1000	0	0	1000	194C	1	0150662	07-11-2013	05596
	2	02	AADFL9819J	Image Creation	26-11-2013	12500	NO	250	0	0	250	194C	2	0150662	07-12-2013	0654



						CORRECTION FILING

	Sr. No.	Deductee Code (01-Company, 02-Other than Company)	PAN of the deductee	Name of the deductee	Date of Payment / Credit	Amount paid / credited Rs.	Paid by book entry or otherwise	TDS Rs.	Surcharge Rs.	Education Cess Rs.	Total Tax Deducted	SECTION CODE OF DEDUCTION	Rate of tax deducted	BSR code/ 24G receipt number	Date on which tax deposited	Transfer voucher / Challan serial No
REVISED ENTRY	1	02	AADFP7819J	Ex Army Protective Security( Partnership firm)	26-10-2013	50000	NO	1000	0	0	1000	194C	2	0150662	07-11-2013	05596
	2	02	AADFM9819J	Image Creation	26-11-2013	12500	NO	250	0	0	250	194C	2	0150662	07-12-2013	0654
REVISED ENTRY	1	02	AADFK4819J	Ex Army Protective Security( Partnership firm)	26-10-2013	50000	NO	1000	0	0	1000	194C	2	0150662	07-09-2015	06596

IS IT CORRECT? PLEASE NOTE THE DATE COLUMN IN ORIGINAL FILED AND CORRECTION FOR FILING?

nagendra.s (accountant) (69 Points)
Replied 23 October 2015

Add newly paid challan of rs.1000/- Then go to deductee wise u wl allocate the paid challan correct the earlier entry frm 1% to 2% since 1000/- allready allocated now allocate balance 1k also totally 2k allocated to that pan

SARAN KUMAR (Accountant) (102 Points)
Replied 24 October 2015

Thanks to all for supported me. I have filed TDS correction statement and it is successful. Once again thanks to all and i am seeking forward co-operation with me.

Athoi (Account Assistant) (24 Points)
Replied 19 June 2018

We have some short deduction and Interest on deduction default u/s 201 for our company. When I have try to pay the same amount through online, short deduction payment and Interest on deduction default u/s 201 selection option is not there in the traces. I need your help to process to same .Please send the detail for both online and offline. Not able to see the token number for the submittion

Regards

Santosh

e-mail: athoi08 @ gmail.com

Attached File : 2402722 20180619103120 capture.jpg downloaded: 234 times