Many a times we faced the issues regarding inconsistencies in TDS or TCS returns. And at that time people got confused as to how to handle these situations or how to avoid such mistakes. Hence today I am writing this article hoping that it will solve your doubt regarding inconsistency in TDS or TCS returns.
The following explains the various possible problems in your TDS/TCS return, how to rectify them and how such inconsistencies can be avoided in future.
When you file your TDS/TCS return, first the details regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the basis of the TDS/TCS challans received by them.For this purpose, the Challan Identification Number (CIN), TAN and TDS amount as given in your TDS/TCS return is compared with the corresponding details given in the challan details provided by the bank that has accepted the tax. (CIN consists of the BSR code of the branch where you deposited the tax, date on which you deposited tax and the challan serial number which have been stamped on the counter foil of the challan given to you.)
Read more on: https://taxguru.in/income-tax/resolve-inconsistencies-tdstcs-statements-correction-statements.html
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