Quick Checklist
- TAN
- Challans of TDS Payment
- Details of Deduction
- Ack Receipt of Original Return
TDS Returns Revision
All you need to know
TDS Return is required to be filed by any person who is liable to deduct tax at source. A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It should contain all details of TDS deducted and deposited by you for a particular quarter.
You may need to file TDS correction or TDS revision if you have wrongly shown any details in original TDS Returns. Such mistakes can be wrong PAN, wrong date, or short or no tax deduction. In all such cases, in order to ensure seamless credit to the person whose TDS is deducted, you should revise your TDS Return.
You may also need to revise your TDS return if you have short paid any TDS and received any notice from income tax department. It should be noted that only by paying short deducted TDS, your work is not over. This has to be given effect through a correctly filed TDS statement.
TDS return may be corrected as many times as needed. There is no due date by which a TDS return has to be revised. Hence, as soon as an error is discovered, you should file a correction return.
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Correction TDS Returns Filing- You must know
Points to make your decision easy
Due Date
There is no due date for filing of a TDS revision return. Hence, it can be filed at any time. However, if you have received income tax notice, you should comply with the due date mentioned in the same.
Credit of TDS
Erroneously filed TDS Return will not allow TDS Credit to the deductee. Correctly filed TDS Return will ensure appropriate credit of TDS to your vendor.
Justification File
The TDS demand notice does not mention the detailed reasons behind the notice. To find out the reasons for default, the deductor has to download a justification report from the TRACES website. A justification report contains all details about the TDS demand notice.
Documents Required for TDS Returns revision
TAN & Challans
All we need is your TAN (Tax Deduction Account number) and challans of TDS paid by you. TAN is an alphanumeric number which is issued by the Income-tax department. Also, if you have deposited TDS online, an acknowledgment of amounts paid will be generated from your bank website. This is challan 281. All you need to provide is this two information to get going.
TDS Returns Revision Process Flow
5 Easy Steps
1
We receive required information
2
You fill in a simple excel template
3
Your return is prepared
4
Your return is submitted
5
You receive return acknowledgement
Information Collection
We will get required documents from you for preparation of TDS Revision returns.
Preparing Return
Based on documents and information, we will prepare TDS revision return and send for your approval.
Filing Return
Upon approval from your to go ahead, we shall file a return and send acknowledgment copies to you.
FAQs On TDS Returns Revision
Get answers to all your queries
TDS is to be paid by the person who is liable to deduct/Collect tax at a prescribed rate of income tax act known as deductor from the income of another person called deductee. Deductor has valid TAN which is used to quote at the time of making payment using challan 281 of TDS/TCS to central government thru both online as a well offline mode. Online payment of TDS/TCS can be made from internet net banking facility using traces online facility while offline payment can be deposited to a designated bank over their counters.
A TAN registration can be obtained within 10 to 15 days.
You don’t have to worry about the same. Central Government allows rectifying all such genuine mistakes or omissions in filing original return. Kindly quickly get in touch with our team to get a return rectified.
caagrawalkanhere.com provides TDS Return Revision all across India. You can obtain TDS Return Revision in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@caagrawalkanhere.com or call us @ 07552761432.
