DRAFT OF STANDARD OPERATING PROCEDURE FOR MATCHING THE UNCONSUMED CHALLAN
Recently CBDT has issued a Draft of Standard Operating Procedure for Matching the Unconsumed Challan for administering TDS incorporating the re-engineered processes developed by the CPC-TDS which is as under :
A challan may remain unconsumed on the computer system under following circumstances:
- In case of a deductor where demand has been raised due to short payment or; due to quoting of wrong challan particulars in TDS statement; there might be an OLTAS challan available in the account of such a deductor, which has not been utilized/claimed. Such a challan is known as unconsumed challan and, such challans can be matched against a demand thus raised. Such unconsumed challan can be force - matched and can be tagged to the TDS statement of the deductor, to which the challan pertains. Forced matching is a functionality available in TRACES-AO Portal.
- There may be a case where the deductor has paid the demand on account of late filing fee or; interest including late payment interest or; late deduction interest. Whereas, the same challan has not been reported through TDS statement for claim against such demand outstanding. As the particulars in TDS statement are the basis of TDS defaults, the closure of demand is possible only after the challans paid against the defaults get reflected in such TDS statement.
- Where the deductor has paid the taxes deducted at source but has either not reported TDS transactions through TDS statement at all or; reported incomplete transactions in TDS statement. Challan against such transactions also remain as unconsumed challans on the computer system.
To continue reading or Download "Draft Standard Operating Procedure for Matching the Unconsumed TDS Challan" (Click Here)
