TDSMAN Blog

smart & easy software for eTDS & eTCS returns

TDSMAN Blog - smart & easy software for eTDS & eTCS returns

3 Simple Steps for Tax Deductors to follow

Below are the three simple steps for Tax Deductors to follow in case of TDS and TCS:

1. Deduct

  • Correct TDS while making payment as required by law
  • Deduct tax at higher rate in case valid and correct PAN of deductee is not available with you

Failure to deduct /collect tax at source shall result in penalty equal to the amount of tax failed to be deducted/collected.

2. Deposit

i) Non Government Deductors to deposit:

The tax deducted within 7 days from the end of the month in which deduction was made and by 30th April, 2015 where deduction (Other than deduction u/s 194IA) was made in the month of March, 2015.

ii) Government Deductors to deposit:

The tax deducted at source on the same day in case of book transfer & by 7th of the following month if using challan

Non-deposit of tax deducted / collected to the Government account shall invite Prosecution.

3. Issue

TDS certificate in Form 16A on income other than salary for the quarter ended on 31st March, 2015 by 30th May, 2015

TDS certificate in Form 16 for the financial year ended on 31st March, 2015 by 31st May, 2015

Delay in issue of TDS certificate shall result in penalty of Rs. 100/- for each day of default not exceeding amount of tax deductible/collectible. 

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Important Information for Deductors regarding TDS Certificates

Below are the important information regarding TDS Certificates which deductors should take care of:
  • Deductors who have deducted TDS and have not deposited the same by the due date, must do so immediately.
  • All deductors must register themselves at https://www.tdscpc.gov.in (TRACES Portal)
  • TDS certificate in Form 16A and part A of Form 16, containing 7 character TDS certificate number, has to be mandatorily downloaded from https://www.tdscpc.gov.in
  • TDS certificate cannot be downloaded from TRACES Portal in case of non/incorrect quoting of PAN
  • Quote correctly PAN of the deductee so that they get their due tax credit
  • Quote correctly CIN of challan to avoid any short payment default
  • Deductors need to first close short payment default, if any, to download TDS certificates

Visit www.tdscpc.gov.in for:

  • e-Tutorials
  • Frequently Asked Questions (FAQs)
  • Online correction of statements
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FAQ on Online Correction

What is Online Correction?

TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS/TCS statements online. Following are the various facilities available through online correction:

  • View default summary
  • Rectifying challan mismatch cases
  • Addition of new challan to the statement
  • Pay 220/interest/levy
  • Add or Delete Salary Detail
  • Rectifying statement challan information
  • PAN Correction
  • Correction in Personal Information
  • Add/Modify deductee detail
  • Movement of deductee rows 

How to apply for Online Correction?

Login into TRACES as a deductor and raise the request for online correction under ‘Default’ Menu. For more information please refer E-tutorials. 

Is it mandatory to have registration of Digital Signature on TRACES for all type of online correction ?

Digital Signature Matrix for functionalities through online correction: 

I have filed a paper return, and want to make online correction through TRACES. How should I proceed?

Online correction functionality on TRACES will not be available in case of paper return .

What will the deductor do if the request for correction is rejected by TDSCPC?

Deductor has to check the rejection reason by selecting ‘Track Correction Request under ‘Default’ from main menu. Then select the request number and click on hyperlink ‘Rejected’ under the heading ‘Status’. Once the user takes the necessary action on resolution of rejection reason, he can resubmit the online correction request through TRACES.

Is it necessary for a sub-user to submit online Correction?

Yes, after making the online correction, sub- user will submit the corrections to admin user for final submission to TDSCPC. Sub-user will not be able to proceed further without the intervention of Admin User.

I have received the demand for late fee and paid the same, now how can I file online correction for the same through TRACES?

Login into TRACES, under ‘Defaults’ raised the request for online correction. Once request number is generated and request status is in available status, user can make the online correction by choosing the option ‘Pay late fee/ 220/ interest’. For more detail refer e-tutorial.

My Digital Signature Certificate (DSC) is already registered on TRACES. However, when I am trying to submit online correction, system does not allow me to proceed. What is the reason?

You need to clear the cookies and reload the website. If issue still persists check the browser being used. Internet Explorer 7,8 or 9, Google Chrome and Mozilla Firefox 17 & above are compatible browser for TRACES.

What all information can be changed in Personal Online Correction option?

By choosing ‘personal information’ option from ‘Type of correction’ drop down online correction option, you can edit communication detail of TAN as per statement and name & communication detail of authorised person as per statement.

Can I cancel the online correction request?

Yes, before submitting the correction for processing, you can cancel the request under ‘correction ready for submission’ where you will get an option to ‘cancel statement’. By clicking on this, correction will not be submitted to TDSCPC and will be cancelled.

Can I submit multiple corrections with one request number?

Yes, you can do multiple corrections with one request number for the statement pertaining to same financial year, quarter and form type.

Can Deductor do online correction for TCS?

Yes, deductor can file online correction for both TDS and TCS.

Can salary details in annexure 2 be edited through online correction?

User can update only PAN of the employee in annexure 2. For correction in other fields, user can delete the existing deductee row and/or add new deductee row.

Can Deductor change the category of Deductor through Online Correction?

No, deductor cannot change the “category of deductor” through online correction.

Source: TRACES

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Reasons to reject the correction in salary detail records by TDSCPC

Rejection reasons pertaining to salary details are as follows:

  • In case of salary detail PAN update or delete of salary detail record, last total gross income should match with corresponding value in regular / previous statement
  • Salary detail record on which correction is filed does not exist in the regular / previous return
  • In case of addition of salary detail record, the record number should be unique and in sequence with the existing records in regular / previous return
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