What is new ?
1. Step 1: CPC (TDS) will first process Original TDS Statements till the stage of 26AS generation for deductees reported.
2 Step 2: Short Payments and PAN Errors will be identified in the preliminary check of the Original statements.
3. Step 3: The statements will be placed “On Hold” for further processing and an opportunity will be provided to correct potential defaults of Short Payment and PAN Error.
4. When the statement is placed on Hold, CPC (TDS) will intimate you through following means :
5. The above correction needs to be carried out by using Online Correction feature at TRACES within 7 days of above communication.
It is, therefore, advised that the deductors may ascertain status of the TDS statements within 7 days of filing with TIN Facilitation Centre.
What are the advantages:
Correction of above defaults using Online Correction can be submitted before final processing of statements.
Above action will facilitate avoidance of multiple Correction Statement filing later, after the defaults are identified CPC (TDS) and Intimations have been sent.
What actions to be taken :
To avail the facility, you are requested to Login to TRACES and navigate to Defaults tab to locate Request for Correction from the drop-down menu.
Please note that Digital Signature will be required to avail the benefit of complete correction features, including PAN Corrections. In view of Q3 filing due date approaching fast, you are requested to procure Digital Signature Certificate at the earliest.