Centralized Processing Cell (TDS) has communicated by an advisory that many times intimations sent to TDS deductors not get delivered / served as the address mentioned in the TDS statement filed by Deductor is either not correct or dedutor failed to provide complete postal address while filing his statements. In view of this deductors are advised to Please ensure that they provide correct and complete postal address while filing their TDS statements.
Implications of reporting Incomplete/Incorrect address in TDS Statements:
i. You will not be able to clear defaults on time in case of non-receipt of intimations which may lead to increase in defaults amount in form of Interest and Penalty
ii. It will impact Form 26AS of deductee as the deductee will not be able to get the credit of Tax in his/her ITR
Hence it is advised :
i. To mention current, correct and complete postal address at the time of filing Quarterly Statement
ii. Update the Traces Profile as and when there is change in the address.