What is TDS correction statement?

What is TDS correction statement?

The deductor of taxes is further required to furnish a statement of TDS for a given TAN, form, financial year and quarter. The changes or updates made to the original statement are known as a correction statement.

How can I make correction of TDS?

How to make corrections to TDS returns in Cleartds

  1. Make a request for Conso File and download the same from Clear TDS.
  2. Open the . zip file which contains the Conso File.
  3. Import your Consolidated File to prepare correction statement.
  4. Make any modifications necessary.

How do I submit a correction statement on traces?

Steps for online correction on TRACES is as follows: Login to TRACES website with user ID, password and TAN. Under defaults, choose ‘Request for correction’ Enter relevant Financial Year, Quarter, Form Type whether, Latest Accepted Token number. Correction category should be “Online” and click on ‘Submit’

Can TDS be corrected?

TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS/TCS statements online for a particular Financial Year, Quarter and Form Type. Through this functionality deductor can file correction without downloading Conso file, for Challan and PAN related corrections.

How can I check my TDS correction status?

Status of e-filing of TDS Statement by your deductor

  1. Step – I. Visit https://www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml.
  2. Step – II. Enter the Captcha code and click on Proceed.
  3. Step – III.

What is correction type C3 in TDS return?

C3. The C3 type of correction is meant for any kind of correction in deductor details or challan details or the deductee details too leaving the PAN number aside. Let’s say an Education Cess has been mentioned incorrectly in particular detail, it will promptly generate a C3 correction.

How can I correct TDS statement in RPU?

Request for conso file from Traces Portal

  1. Login to traces.
  2. After login you can see various tabs on the Home Screen.
  3. Go to Statements/Payment tab, Go to request for conso file.
  4. After which you have to select the Financial Year, Quarter, & Form for which the return is to be revised.

Can I add challan in TDS correction statement?

Yes. It is possible to add challan to filed e-TDS Return. For corrections in PAN master, personal information, deductee details, and challan details, there is no need to request for Conso file (file correction statement).

How can I file TDS correction offline?

Offline correction

  1. Request and download of Conso File: The consolidated statement or the Conso file has to be requested and then downloaded from the TRACES website.
  2. Read the Conso file to the software: The Conso file downloaded from TRACES has to be read to the software used for correction return filing.

Can I add Challan in TDS correction statement?

What is C2 correction in TDS?

Types of Corrections in TDS Returns

Type of Correction Description
C2 Revise challan details like challan serial number, BSR code, challan tender date, challan amount
C3 Update, delete or add deductee or employee details
C4 Add or delete salary detail records
C5 Revise the PAN number of the deductee or employee in salary details

What is C1 correction in TDS?

The C1 correction is applicable for all corrections done in the deductor details except for the TAN number. If the PAN number is wrong, or the deductor’s name or the address gets messed up, the C1 correction type is generated.

How to do TDs correction return filing?

TDS Correction can be done in two ways √ Online √ Offline. Steps for TDS correction return filing. 1. Check the defaults raised for the quarter after the regular statement is filed. Checking can be possible through Quarterly Statement Status after 3 working days of return filing. 2.

What if TDs amount is wrongly mentioned in TDs statement?

but there occurs some mistake while furnishing TDS statement like PAN is wrongly mentioned, short deduction of TDS amount, excess utilization of any challan etc. In that case, the assessee has to do online correction in TDS statement on “ TRACES ” (TDS Reconciliation Analysis and Correction Enabling System).

How to correct mistake in TDS/TCS file?

However, Income Tax Department has provided a procedure for correction of any mistake in the original returns/statements by submitting ‘correction returns/statements’. To prepare correction statement, first download Consolidated TDS/TCS file after login at TRACES login at www.tdscpc.gov.in

What are the reasons for TDs corrections?

The following are the some of the reasons behind for TDS corrections. > Wrong PAN Number for Employee or Dedcutee update in TDS Statement > Mentioning Wrong details for LDC Number or LDC rate. > Desire to Change in Date of Deduction or Date of credit for TDS amount.

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