Income Tax Department has raised demand on account of Short payment of TDS challans. After checking it has been found that some demands have been issued due to double entry of Single challan in TDS return. On processed by Income Tax Department, the said challans have been marked in Blue Color with remarks “Over Booked” Challans. Earlier there was no control in TDS RPU, deductor can update or delete any challan having Matched or Over Booked etc. But now deductor can not update all fields of challan remarked as Matched or Over Booked. Only some fields like section code, Interest amount and others amount.
Status of Challan may be easily clarified in following manner:
What information does challan consumption details table provide?
* Challan consumption Details table displays the statement(s) in which the particular was consumed.
* Challan Status is displayed as over booked when sum of tax deposited for underlying deductee rows against challan (amount claimed) is greater than balance available for the challan in OLTAS.
* Challan status is displayed as “Matched” when:
The Challan is not consumed by the deductor, i.e. sum of tax deposited for underlying deductee rows against the challan (‘Amount Claimed’) is Zero
OR
The Challan is partially consumed by the deductor i.e., sum of tax deposited for underlying deductee rows against the challan (Amount Claimed ) is less than challan amount,
OR
The Challan is fully Consumed by the deductor, i.e. sum of tax deposited for underlying deductee against the Challan, i.e. (Amount Claimed) is equal to the Challan Amount
How can I delete, Matched or Over booked TDS Challan Amount
Now, Traces provide a very short and easy online tutorial for the correction of Overbooked and Unmatched Challan.