Time limit to file correction statement in respect of TDS/ TCS statements (TAX ADMINISTRATION)

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....on requires that a deductor after paying the tax deducted to the credit of the Central Government, shall prepare statements detailing the TDS deducted and furnish it within the prescribed time to the prescribed authority. The proviso to section 200 states that a person may also deliver to the prescribed authority a correction statement for rectification of any mistake or to add, delete or update t....

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....ed under the proviso to subsection (3) in such form and verified in such manner, as may be specified by the authority. 3. While there is a time limit for furnishing statements detailing the TDS/TCS, however, there is no time limit for furnishing correction statements. Hence such statements may be revised multiple times indefinitely and thus these provisions may be misused causing difficulty to de....