TRACES - Short Payment Defaults in TDS Statements for FY 2013-14

CPC (TDS) communication regarding Short Payment Defaults in TDS Statements for FY 2013-14

Communication Number 62 dated 23rd July, 2014

As per the records of Centralized Processing Cell (TDS), there are Short Payment defaults, exceeding Rupees One Lakh, in the TDS Statement(s) submitted for various quarters of Financial Year 2013-14.

The Short Payment default is on account of "Total amount of Tax Deducted" exceeding "Total amount of Tax Deposited", as reported in your TDS Statements. Please refer to the following illustration:

Amount Paid/ Credited	TDS Deducted	TDS Deposited	Remarks
1,55,000.00	1,55,000.00	15,500.00	Wrong TDS Deducted Amount
2,20,420.00	20032014.00	22042.00	Date mentioned in the TDS Deducted Column

Intimation u/s 200A of the Income Tax Act, 1961 intimating the outstanding demand for the relevant quarters towards Short Payment, have already been sent by CPC (TDS) on Registered email address and by post, at the address, as mentioned in the relevant TDS Statement.

Actions to be taken:

·         Download the Justification Report from our portal TRACES to verify above Short Payment demand. Please click here for assistance on downloading the Justification Report.

·         Download the Conso File from our portal. Please use the e-tutorials for necessary help

·         Prepare the correction statement with appropriate changes. Please ensure that the TDS Deposited amount equals the TDS Deducted amount in your correction statement.

·         Submit the Correction Statement at TIN Facilitation Centre.

Source:TRACES.