Friends, CPC (TDS) team had communicated to their deductors through email on 10-09-2014 that there is no effect of Section Code mentioned in Challan and Deductor can deposit a single challan for payment of TDS deducted in a month. There is no issue of Section Codes 94C, 94A , 94 J, 92A , 92B , 94H etc.
Secondly excess amount of TDS can be used in the next Financial Year or adjustment of Defaults for previous years issued by Income Tax Department etc.
Now, there is no use to update Section Code through bank or assessing authority if it is wrongly mentioned in challan. The same can be corrected while submitting TDS Statement.
Keeping in view of these important changes, every deductors should devote some time in reading the following communication of CPC (TDS) Team.
Dear Deductor,
As per the records of the Centralized Processing Cell (TDS), it has been observed that you have used multiple challans in a month, for payment of Tax Deducted.
For Deductor's convenience, CPC(TDS) has established processing logic in the system that can accept a Single Challan for reporting of Tax Deposited in following circumstances :
Situation prior to Financial Year 2012-13
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Consumption of Challan in TDS Statement on the basis of Section quoted in the Challan details
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Situation after Financial Year 2012-13
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Section quoted in Challan, at the time of depositing Tax deducted/ collected is irrelevant for the purpose of consumption in TDS Statement.
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Based on the above information, you may use a single challan in a month towards payment of Tax Deposited. For any assistance, you can also write to ContactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.
CPC (TDS) is committed to provide best possible services to you.
CPC (TDS) TEAM