How Long Does It Take to Correct a TDS Return?
Learn the typical timeframe for correcting TDS returns and tips for expediting the process.
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Correcting TDS returns usually takes about 7-15 working days after submitting the correction statement via the TRACES portal. To expedite the process, ensure all required information is accurate and complete. Regularly check the status on the TRACES portal to stay updated on the progress. Consistent follow-ups can also help in minimizing delays and ensuring timely correction. Proper documentation and double-checking entries beforehand can prevent common errors and save additional processing time.
FAQs & Answers
- What is a TDS return? A TDS return is a periodic statement submitted by a taxpayer to report the tax deducted at source, which is collected by the government from the income of a taxpayer.
- How can I check the status of my TDS correction request? You can check the status of your TDS correction request by logging into the TRACES portal and navigating to the appropriate section for correction request status.
- What documents are required to correct a TDS return? To correct a TDS return, you typically need documentation like the original TDS return, proof of tax payment, and any additional supporting documents that validate the corrections being made.
- Can incorrect TDS returns lead to penalties? Yes, submitting incorrect TDS returns can lead to penalties and fines imposed by tax authorities, making accuracy crucial in filing TDS returns.