The Income Tax Department has announced the deadline for filing TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) correction statements for the financial year 2024–25.
All taxpayers and deductors are advised to make necessary corrections on time to ensure their tax credits are correctly shown in Form 26AS and the Annual Information Statement (AIS).
Why Correcting TDS and TCS Statements Is Important
The Central Board of Direct Taxes (CBDT) has urged all deductors to verify their details carefully before submitting the correction statement.
Common errors such as incorrect PAN numbers, wrong challan details, or incorrect deduction entries can lead to mismatches when taxpayers file their Income Tax Returns (ITR).
Fixing these issues early ensures that taxpayers receive the right credit for the tax deducted or collected on their behalf.
Missing the correction deadline could result in delays, mismatches, or even tax notices later.
How to File Correction Statements
If an error is found in your TDS or TCS filing, you can easily correct it through the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal.
The correction process allows deductors to update or fix any wrong information submitted earlier.
Once corrections are filed on time, the updated data automatically reflects in the taxpayer’s Form 26AS and AIS, ensuring smooth and accurate tax filing.
Stay Compliant and Avoid Delays
The government has repeatedly emphasized timely compliance for both individuals and businesses.
Filing your correction statement before the due date helps maintain transparency, prevents credit mismatches, and avoids unnecessary complications during ITR filing.
To stay updated, taxpayers can check their TDS/TCS credit status anytime on the Income Tax e-filing portal or through TRACES.
