Common Rejection Reasons of Correction Statements
Total Amount of Tax Deposited validation
(Total Tax Deposited > or equal to Summation of Deductee Deposited
Amount in Annexure I against that challan + Interest + Other + Late
Filing Fee) failed
- Details & Rules While
accepting a Correction Statement at TDS CPC, it is checked that 'Total
Tax Deposited' is greater than or equal to the 'Summation of Deductee
Deposited Amount in Annexure I against that challan plus Interest plus
Others plus Late Filing Fee'. However, a number of Correction Statements
have been rejected due to above reason. The below table contains the
scenarios of rejection and acceptance of correction statement
Sr. No. Total Tax Deposited (Col 11)* Sum of Deductee Deposited Amount (Annexure I) Others (Col. 21)* Interest(Col. 20)* Late Filing Fee Comparison of Total Tax Deposited and (Sum of Deductee Deposited Amount - Annexure I + Others + Interest) Sum of Deductee Deposited Amount (Annexure I) 1 1000.00 600.00 50.00 100.00 200.00 Total Tax Deposited is greater Correct 2 1000.00 700.00 100.00 200.00 200.00 Total Tax Deposited is lesser Incorrect 3 1000.00 600.00 100.00 100.00 200.00 Total Tax Deposited is equal Correct * Column number as in NSDL RPU - Advise Deductors are advised to use a software to prepare Correction Statement which has inbuilt validation to check the mismatch. NSDL RPU has these validations in place.
Reasons for Zero Credit in Form 16BIt has been observed that deductors are wrongly entering the tax amount deducted on sale of property in 'interest' or 'others' or 'fee' column while making the e-payment. Accordingly, zero TDS credit will appear in Form 16B.- Advise The Deductor (Buyer) should fill the amount of tax in 'TDS Amount to be Paid' field and not in 'Interest' or 'Fee' field. Else, the seller will not get the credit of such tax.
