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We do not intentionally make mistakes, but we do make them sometimes. What if we had a chance to correct our mistakes? Life gives us a few chances to undo our mistakes; sometimes, it doesn’t. That’s life, and we have no one to complain to. However, the Income Tax Department gives us multiple chances to revise TDS returns. If you have mentioned the wrong information or missed something in the statement while filing the TDS return, you can file the revised TDS return. But how do we do that? Let us explain to you the step-by-step guide to file a revised TDS return.
For other types of corrections and multiple batch corrections, you can opt for the offline mode.
If you want to revise your TDS return offline, you will be required to download the latest Conso file and justification report. The conso file contains deduction-related information of the particular quarter, and the justification report has data on the error made in filed return.
You will need the RPU (Return Preparation Utility) tool to prepare and file revised TDS returns. RPU can be downloaded from the NSDL portal:
https://www.protean-tinpan.com/services/etds-etcs/etds-rpu.html
To verify, navigate to the download tab, choose the requested download, and select "view all." You will find the submission of your consolidated file, and the status will indicate "submitted." After a day, the status of your consolidated file will change to "available.
You can make multiple corrections in the TDS Return statement to modify the regular TDS report, whereas a regular TDS statement will only be acknowledged once by the TIN central system.
Common errors that necessitate the filing of a revised TDS return include discrepancies in the amount of TDS deducted, errors in the details of the deductee, incorrect challan details, or any other inaccurate information provided in the original return.
Failure to file a revised TDS return within the specified timeline may attract penalties as per the Income Tax Act. Additionally, interest may be levied on the outstanding tax amount if the errors in the original return result in underpayment of tax.
Yes, you can seek professional assistance from chartered accountants, tax consultants, or other financial experts to ensure the accurate and timely filing of a revised TDS return online. They can guide you through the process, help rectify errors, and ensure compliance with the relevant tax laws and regulations.
