Deadline to File a Revised TDS/TCS Return for FY 2007-08 to 2018-19

Deadline to File a Revised TDS/TCS Return for FY 2007-08 to 2018-19. Have you ever noticed that TDS (Tax Deducted at Source) was correctly deducted from your income but still doesn’t appear in your Form 26AS or Annual Information Statement (AIS)? This can be frustrating, especially if you’re unable to claim that TDS in your ITR. Many taxpayers in India are facing the same issue due to mistakes made by deductors like banks, employers, or contractors while filing TDS returns. Now, with a new time limit announced in Budget 2024, there’s a ticking clock for both deductors and taxpayers. If you're affected, read this article carefully and act before March 31, 2025.
What is a TDS Return and Why It Matters?
TDS is deducted by banks, employers, or other institutions when they make a payment to you—such as salary, bank interest, or professional fees. After deducting TDS, they are supposed to file a TDS return with the Income Tax Department, mentioning your PAN and the exact amount deducted. If this return is filed correctly, you will see the deducted amount in your Form 26AS and AIS. You can then claim this TDS while filing your Income Tax Return (ITR), reducing your tax liability.
However, if the deductor makes a mistake—like mentioning the wrong PAN or deducting TDS but not filing the return at all—then the TDS won’t reflect in your 26AS or AIS. As per current rules, you cannot claim TDS in your ITR unless it appears in your 26AS or AIS. That’s why correcting errors in TDS returns is so important.
TDS Not Showing in 26AS or AIS? Here’s What You Can Do
When your deducted TDS does not reflect in Form 26AS or AIS, your first step should be to check with the deductor. It might be a bank, employer, or a business client. Ask them to verify the TDS return they filed and correct any mistakes. If the mistake is confirmed, the deductor must file a revised TDS return.
However, this process is not always easy. Many banks and companies delay or ignore such requests. In such cases, taxpayers can raise a grievance with the Income Tax Department and keep following up until the deductor makes the correction.
Why the Government Introduced a Deadline for TDS Correction?
Before Budget 2024, there was no time limit for filing revised TDS returns. This led to misuse, with some deductors changing TDS returns even years later, which caused confusion for taxpayers and the income tax system. To control this, the government amended Section 200(3) of the Income-tax Act.
Now, there is a six-year time limit for filing a revised TDS return. This means deductors can only revise their TDS returns within six years from the end of the financial year in which the return was originally filed. This change ensures better compliance and prevents misuse of the system.
Why March 31, 2025, Is So Important?
The government has given a one-time chance to fix old TDS errors. If there was any mistake in your TDS (Tax Deducted at Source) between the financial years 2007-08 and 2018-19, and you couldn't claim the credit, the person or bank who deducted the tax (called the deductor) can now revise the TDS return.
But this can be done only till March 31, 2025. After this date, no corrections will be allowed for those years.
So, if your TDS credit didn’t show up earlier or was incorrect, this is your final chance to get it fixed. You could get a refund or avoid paying extra tax. Reach out to your bank or deductor soon and ask them to file the corrected TDS return before the deadline.
Real Cases That Show the Importance of Revising TDS Returns
The following are some cases that show the importance of revising TDS Returns
Case 1: Wrong PAN Leads to TDS Credit Loss
In one instance, a bank deducted TDS from a customer’s interest income but entered the wrong PAN in the TDS return. As a result, the TDS didn’t appear in the taxpayer’s AIS. Years later, the taxpayer received a Section 245 notice, informing him that his current refund was being adjusted against an old tax demand. After investigation, it was found that the demand existed only because the earlier TDS was not credited to his account.
Despite repeated requests, the bank did not revise its TDS return. Finally, the taxpayer filed a grievance with the Income Tax Department. The department issued a notice to the bank, and only then did the bank file the correction. The TDS was reflected in 26AS, the 245 notice was withdrawn, and the taxpayer received his full refund.
Case 2: Employer Mistake Fixed After Many Years
Another Chartered Accountant shared a case where an employer filed the TDS return with the wrong PAN of the employee. When the employee filed his ITR, he did not get the credit for TDS. The issue remained hidden for several years until a tax notice came. After requesting the employer to revise the return, and following up with the tax department, the issue was finally resolved.
These cases show how important it is to follow up and take action. If the taxpayer had ignored the issue, it would have led to long-term tax demands, penalties, and loss of refund.
How to Check TDS Status in Form 26AS and AIS?
To avoid such situations, always check your Form 26AS and Annual Information Statement (AIS) before filing your ITR. If TDS has been deducted but is not reflected in these reports, it’s a red flag. Look for the “F” status in your 26AS—this means the TDS is final and can be claimed. If it shows “U” (Unmatched) or doesn’t appear at all, contact the deductor immediately.
Also, always ask for a TDS certificate (Form 16 or Form 16A) from the deductor. If they don’t provide it, it's even more important to ensure your AIS reflects the correct TDS details.
What Deductors Should Do Before the March 2025 Deadline?
If you are an employer, bank, or business that deducts TDS, it is equally important to review past TDS filings. Check if there were any errors in PAN, amounts, or deduction dates for the financial years 2007-08 to 2018-19. If any mistakes are found, file a correction statement on the TRACES portal before March 31, 2025.
The Income Tax Department has also updated the TRACES portal to help with the correction process. On February 5, 2025, new utilities were released for Form 24Q Q4 corrections and for generating Form 16 Part B. Deductors should use these latest tools to ensure accuracy in TDS reporting.
What Happens After March 31, 2025?
After the deadline, no TDS correction statements for financial years 2007-08 to 2018-19 will be accepted. For future years (FY 2019-20 onwards), the six-year rule will apply. This means you won’t be able to go back and fix mistakes, even if you have genuine proof. The opportunity to claim old TDS credits will be permanently lost.
For taxpayers, this could mean loss of refunds, or worse, pending demands building up with interest. For deductors, this could lead to legal consequences and notices from the tax department.
Take Action Now
The March 31, 2025 deadline gives both taxpayers and deductors a one-time chance to clean up their old records. Don’t wait till the last minute. Start by reviewing your 26AS, AIS, and past ITRs. If something doesn’t match, raise it with the deductor immediately. Follow up, file complaints if needed, and get the correction done.
For deductors, review your past filings, especially from FY 2007-08 to 2018-19. Act now to avoid penalties, notices, and loss of trust from your clients or employees.
Conclusion
The TDS return correction deadline of March 31, 2025, as introduced in Budget 2024, is a critical update in the Indian tax system. Whether you are a salaried employee, a freelancer, a business owner, or a large corporate entity—this deadline matters to you.
If there were any TDS deduction errors in the past, this is your last chance to correct them and claim what is rightfully yours. After the deadline, the doors to correction will be closed forever. So check your data, contact your deductors, and take control of your tax history—before it’s too late.
If you need any help or support you can connect with Compliance Calendar experts through mail info@ccoffice.in or Call/Whatsapp at +91 9988424211.
FAQs
Q1. What is the deadline for revising old TDS returns as per Budget 2024?
Ans. As per Budget 2024, the deadline to revise TDS returns for the financial years 2007-08 to 2018-19 is March 31, 2025. After this date, no correction statements will be accepted for these years.
Q2. Why is TDS not showing in my Form 26AS or AIS even though it was deducted?
Ans. If TDS is not showing in your Form 26AS or Annual Information Statement (AIS), it may be due to a mistake by the deductor, such as entering the wrong PAN or not filing the TDS return correctly. In such cases, the deductor must file a revised TDS return for the TDS to reflect properly.
Q3. Can I claim TDS in my ITR if it doesn’t appear in Form 26AS or AIS?
Ans. No, you can only claim TDS credit in your Income Tax Return (ITR) if it appears in your Form 26AS or AIS with a status of “F” (Final). If it is missing, the Income Tax Department will not allow the TDS credit, and your refund may get delayed or reduced.
Q4. What should I do if my deductor refuses to revise the TDS return?
Ans. If your deductor (bank, employer, etc.) refuses to revise the return, you should:
• Raise a grievance on the Income Tax portal.
• Keep records of your communication with the deductor.
• Follow up regularly. In many cases, the tax department may issue a notice to the deductor, which may lead to action.
Q5. What is Section 200(3) of the Income-tax Act?
Ans. Section 200(3) of the Income-tax Act deals with the filing of TDS statements. As per the amendment made in Finance Act (No. 2) 2024, deductors can no longer revise TDS returns after six years from the end of the relevant financial year. This aims to prevent misuse and ensure timely compliance.
Q6. What happens if the TDS error is not corrected before March 31, 2025?
Ans. If the TDS error for the years 2007-08 to 2018-19 is not corrected before March 31, 2025, you will permanently lose the chance to claim the TDS credit. The return cannot be revised after that, and any past tax demand due to this issue may remain pending.
Q7. How can I check if my TDS is correctly reflecting in 26AS or AIS?
Ans. You can:
• Log in to the Income Tax e-filing portal.
• Download Form 26AS and AIS (Annual Information Statement).
• Look for the deducted TDS entries and ensure they show status as “F” (Final). If it’s missing or incorrect, contact the deductor immediately.
Q8. Are deductors responsible for revising TDS returns?
Ans. Yes, the responsibility to file or correct a TDS return lies with the deductor—which could be a bank, employer, or business. Taxpayers can only raise requests or complaints but cannot revise TDS returns themselves.

Have you ever noticed that TDS (Tax Deducted at Source) was correctly deducted from your income but still doesn’t appear in your Form 26AS or Annual Information Statement (AIS)? This can be frustrating, especially if you’re unable to claim that TDS in your ITR. Many taxpayers in India are facing the same issue due to mistakes made by deductors like banks, employers, or contractors while filing TDS returns. Now, with a new time limit announced in Budget 2024, there’s a ticking clock for both deductors and taxpayers. If you're affected, read this article carefully and act before March 31, 2025.

What is a TDS Return and Why It Matters?

TDS is deducted by banks, employers, or other institutions when they make a payment to you—such as salary, bank interest, or professional fees. After deducting TDS, they are supposed to file a TDS return with the Income Tax Department, mentioning your PAN and the exact amount deducted. If this return is filed correctly, you will see the deducted amount in your Form 26AS and AIS. You can then claim this TDS while filing your Income Tax Return (ITR), reducing your tax liability.

However, if the deductor makes a mistake—like mentioning the wrong PAN or deducting TDS but not filing the return at all—then the TDS won’t reflect in your 26AS or AIS. As per current rules, you cannot claim TDS in your ITR unless it appears in your 26AS or AIS. That’s why correcting errors in TDS returns is so important.

TDS Not Showing in 26AS or AIS? Here’s What You Can Do

When your deducted TDS does not reflect in Form 26AS or AIS, your first step should be to check with the deductor. It might be a bank, employer, or a business client. Ask them to verify the TDS return they filed and correct any mistakes. If the mistake is confirmed, the deductor must file a revised TDS return.

However, this process is not always easy. Many banks and companies delay or ignore such requests. In such cases, taxpayers can raise a grievance with the Income Tax Department and keep following up until the deductor makes the correction.

Why the Government Introduced a Deadline for TDS Correction?

Before Budget 2024, there was no time limit for filing revised TDS returns. This led to misuse, with some deductors changing TDS returns even years later, which caused confusion for taxpayers and the income tax system. To control this, the government amended Section 200(3) of the Income-tax Act.

Now, there is a six-year time limit for filing a revised TDS return. This means deductors can only revise their TDS returns within six years from the end of the financial year in which the return was originally filed. This change ensures better compliance and prevents misuse of the system.

Why March 31, 2025, Is So Important?

The government has given a one-time chance to fix old TDS errors. If there was any mistake in your TDS (Tax Deducted at Source) between the financial years 2007-08 and 2018-19, and you couldn't claim the credit, the person or bank who deducted the tax (called the deductor) can now revise the TDS return.

But this can be done only till March 31, 2025. After this date, no corrections will be allowed for those years.

So, if your TDS credit didn’t show up earlier or was incorrect, this is your final chance to get it fixed. You could get a refund or avoid paying extra tax. Reach out to your bank or deductor soon and ask them to file the corrected TDS return before the deadline.

Real Cases That Show the Importance of Revising TDS Returns

The following are some cases that show the importance of revising TDS Returns

Case 1: Wrong PAN Leads to TDS Credit Loss

In one instance, a bank deducted TDS from a customer’s interest income but entered the wrong PAN in the TDS return. As a result, the TDS didn’t appear in the taxpayer’s AIS. Years later, the taxpayer received a Section 245 notice, informing him that his current refund was being adjusted against an old tax demand. After investigation, it was found that the demand existed only because the earlier TDS was not credited to his account.

Despite repeated requests, the bank did not revise its TDS return. Finally, the taxpayer filed a grievance with the Income Tax Department. The department issued a notice to the bank, and only then did the bank file the correction. The TDS was reflected in 26AS, the 245 notice was withdrawn, and the taxpayer received his full refund.

Case 2: Employer Mistake Fixed After Many Years

Another Chartered Accountant shared a case where an employer filed the TDS return with the wrong PAN of the employee. When the employee filed his ITR, he did not get the credit for TDS. The issue remained hidden for several years until a tax notice came. After requesting the employer to revise the return, and following up with the tax department, the issue was finally resolved.

These cases show how important it is to follow up and take action. If the taxpayer had ignored the issue, it would have led to long-term tax demands, penalties, and loss of refund.

How to Check TDS Status in Form 26AS and AIS?

To avoid such situations, always check your Form 26AS and Annual Information Statement (AIS) before filing your ITR. If TDS has been deducted but is not reflected in these reports, it’s a red flag. Look for the “F” status in your 26AS—this means the TDS is final and can be claimed. If it shows “U” (Unmatched) or doesn’t appear at all, contact the deductor immediately.

Also, always ask for a TDS certificate (Form 16 or Form 16A) from the deductor. If they don’t provide it, it's even more important to ensure your AIS reflects the correct TDS details.

What Deductors Should Do Before the March 2025 Deadline?

If you are an employer, bank, or business that deducts TDS, it is equally important to review past TDS filings. Check if there were any errors in PAN, amounts, or deduction dates for the financial years 2007-08 to 2018-19. If any mistakes are found, file a correction statement on the TRACES portal before March 31, 2025.

The Income Tax Department has also updated the TRACES portal to help with the correction process. On February 5, 2025, new utilities were released for Form 24Q Q4 corrections and for generating Form 16 Part B. Deductors should use these latest tools to ensure accuracy in TDS reporting.

What Happens After March 31, 2025?

After the deadline, no TDS correction statements for financial years 2007-08 to 2018-19 will be accepted. For future years (FY 2019-20 onwards), the six-year rule will apply. This means you won’t be able to go back and fix mistakes, even if you have genuine proof. The opportunity to claim old TDS credits will be permanently lost.

For taxpayers, this could mean loss of refunds, or worse, pending demands building up with interest. For deductors, this could lead to legal consequences and notices from the tax department.

Take Action Now

The March 31, 2025 deadline gives both taxpayers and deductors a one-time chance to clean up their old records. Don’t wait till the last minute. Start by reviewing your 26AS, AIS, and past ITRs. If something doesn’t match, raise it with the deductor immediately. Follow up, file complaints if needed, and get the correction done.

For deductors, review your past filings, especially from FY 2007-08 to 2018-19. Act now to avoid penalties, notices, and loss of trust from your clients or employees.

Conclusion

The TDS return correction deadline of March 31, 2025, as introduced in Budget 2024, is a critical update in the Indian tax system. Whether you are a salaried employee, a freelancer, a business owner, or a large corporate entity—this deadline matters to you.

If there were any TDS deduction errors in the past, this is your last chance to correct them and claim what is rightfully yours. After the deadline, the doors to correction will be closed forever. So check your data, contact your deductors, and take control of your tax history—before it’s too late.

If you need any help or support you can connect with Compliance Calendar experts through mail info@ccoffice.in or Call/Whatsapp at +91 9988424211.

FAQs

Q1. What is the deadline for revising old TDS returns as per Budget 2024?

Ans. As per Budget 2024, the deadline to revise TDS returns for the financial years 2007-08 to 2018-19 is March 31, 2025. After this date, no correction statements will be accepted for these years.

Q2. Why is TDS not showing in my Form 26AS or AIS even though it was deducted?

Ans. If TDS is not showing in your Form 26AS or Annual Information Statement (AIS), it may be due to a mistake by the deductor, such as entering the wrong PAN or not filing the TDS return correctly. In such cases, the deductor must file a revised TDS return for the TDS to reflect properly.

Q3. Can I claim TDS in my ITR if it doesn’t appear in Form 26AS or AIS?

Ans. No, you can only claim TDS credit in your Income Tax Return (ITR) if it appears in your Form 26AS or AIS with a status of “F” (Final). If it is missing, the Income Tax Department will not allow the TDS credit, and your refund may get delayed or reduced.

Q4. What should I do if my deductor refuses to revise the TDS return?

Ans. If your deductor (bank, employer, etc.) refuses to revise the return, you should:

• Raise a grievance on the Income Tax portal.

• Keep records of your communication with the deductor.

• Follow up regularly. In many cases, the tax department may issue a notice to the deductor, which may lead to action.

Q5. What is Section 200(3) of the Income-tax Act?

Ans. Section 200(3) of the Income-tax Act deals with the filing of TDS statements. As per the amendment made in Finance Act (No. 2) 2024, deductors can no longer revise TDS returns after six years from the end of the relevant financial year. This aims to prevent misuse and ensure timely compliance.

Q6. What happens if the TDS error is not corrected before March 31, 2025?

Ans. If the TDS error for the years 2007-08 to 2018-19 is not corrected before March 31, 2025, you will permanently lose the chance to claim the TDS credit. The return cannot be revised after that, and any past tax demand due to this issue may remain pending.

Q7. How can I check if my TDS is correctly reflecting in 26AS or AIS?

Ans. You can:

• Log in to the Income Tax e-filing portal.

• Download Form 26AS and AIS (Annual Information Statement).

• Look for the deducted TDS entries and ensure they show status as “F” (Final). If it’s missing or incorrect, contact the deductor immediately.

Q8. Are deductors responsible for revising TDS returns?

Ans. Yes, the responsibility to file or correct a TDS return lies with the deductor—which could be a bank, employer, or business. Taxpayers can only raise requests or complaints but cannot revise TDS returns themselves.