I have quoted wrong PAN number in 26Q return of one party. I have now received notice from IT for payment of penalty for short deduction. What should I do? Can i file revised return with corrected PAN number or I have to pay penalty as per demanded by IT department. i have quoted PAN number of different party i.e whole PAN number is wrong. If i filed revised return with corrected PAN number then default penalty will write off by IT depatment?
3 Replies
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 05 November 2014
You have to revise return duly mentioning correct PAN.
CA Abhishek Goyal
(Chartered Accountant)
(516 Points)
Replied 05 November 2014
First Download Justification report and check the PAN. IF it is wrong, then revised the return selecting change in PAN. If PAN is correct then demand will automatically removed by Department itself. So need to pay penalty. and check the status from TRACES Portal
Vawesh
(CA Student)
(61 Points)
Replied 06 November 2014
Sir u don't hv to pay d penalty just correct ur return online through TRACES
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