Friday, April 25, 2014

What to do in case of Late Payment / Late Deduction intimation of TDS received

The default amount will have to be deposited through challan no 281 by ticking minor head '400'. Download conso file from TRACES for filing correction and update the challan detail. While filing correction, fill up interest amount in column no. 403 in Form 26Q, column no. 304 in Form 24Q, column no. 705 in Form 27Q and column no. 655 in Form 27EQ. Mention default interest amount in second last interest column in challan detail of conso file.

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