Tuesday, January 5, 2016

TDS Scheme is faulty as it doesn't allow more than 4 changes in character of PAN in revised return

System of processing TDS statements gives an option to deductor to correct invalid/no PAN entries in TDS statement through a correction statement without any restriction of correcting particular PAN with regard to number of characters
a)     The assessee was regularly filing TDS returns mentioning therein details of hundreds of deductee’s.
b)    Due to some clerical unintentional mistake it mentioned invalid PAN of a deductee in the quarterly TDS return.