TDS Deduction: If the bank or other institutions have wrongly deducted TDS of a taxpayer, then he can correct this deduction till March 31.
If the bank or other institutions have wrongly deducted TDS of a taxpayer, then he can correct this deduction till March 31.
Six years period fixed
The government has fixed a maximum period of six years for correction in TDS returns, so that taxpayers get enough time to correct their mistakes. This time limit is six years from the financial year for which the revised TDS return is being filed. In this situation, the time limit for correcting the income tax return filed during the assessment year 2018-19 is ending on March 31.
Taxpayer will have to apply
If this mistake has occurred in the TDS return, then the taxpayer will have to request the concerned bank or institution to correct the return. Without a correct TDS return, deduction cannot be claimed. Apart from this, a new update has been released on the TRACE portal for Form-24Q and Part-B of Form-16 for the fourth quarter of 2024-25.
These documents are required
- Salary slip, showing TDS deduction.
- Bank statement, containing salary details and TDS deduction information.
- Copy of Form 26AS, in which TDS information is missing or incorrect.
- There should also be a copy of the correction request sent to the deductor.
- Copy of Form-16 or 16A, if available.
How to check your TDS
1. – Login to the TRACE portal (https://contents.tdscpc.gov.in).
2. Select the View TDS/TCS Credit (Form-26AS) option here.
3. Check whether TDS has been recorded or not.
4. If the status is ‘U’, it means that the person who deducted the TDS has entered the wrong details.
What to do
Contact the institution that deducted the TDS. Apply them to file a revised TDS return.
File a complaint online
1. On the e-filing portal
- Login to the e-filing portal (https://eportal.incometax.gov.in).
- Then go to the Grievances option and select Submit Grievance. Select ‘Tax Credit Mismatch’ in this category.
- Fill in the required details and submit the complaint here.
2. On the Trace portal
- Login to the Trace portal (https://contents.tdscpc.gov.in).
- Click on ‘Request for Resolution’.
- Select the appropriate category and register your complaint.
If the complaint is not resolved
- If the problem is not resolved even after the online complaint, contact the tax assessing officer (AO).
- Information about the officer can be obtained by going to ‘Know Your AO’ option on the e-filing portal.
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