NEED FOR CHALLAN CORRECTION

While depositing TDS payment to the central Government Acoount using either online or offline mode following errors can occur at Deductor or Bank end:-

1. Mentioned other TAN Number

2. Mentioned PAN instead of TAN

3. Selected wrong Minor Head/Major Head

4. Selected wrong Assessment Year

5. Selected wrong Nature of Payment

6. Mentioned wrong amount of Tax Payment

Due to these error TDS/TCS demand may arise to Deductor which needs to get rectified as early as possible.

How To Apply For Correction in Tax Paymentl

MODE OF CHALLAN CORRECRON

Challan Correction can be done using the below modes

Mode Of Challan Correcron

OLTAS CHALLAN CORRECTION BY BANK/JURISDICTIONAL ASSESSING OFFICER

Type of Correction Time Limit from challan Deposit Date Correction Authority within Timeline Correction Authority after the Expiry of Timeline
TAN to TAN Correction Within 7 days Bank Jurisdictional Assessing officer
PAN to TAN Correction Within 7 days Bank Jurisdictional Assessing officer
Major/Minor Head Within 3 months Bank Jurisdictional Assessing officer
Nature of Payment Within 3 months Bank Jurisdictional Assessing officer
Total tax Payment Within 7 days Bank Jurisdictional Assessing officer

OLTAS CHALLAN CORRECTION AT TRACES WEBSITE

OLTAS Challan Correction is the functionality provided by TDSCPC to the deductor for correction of the unclaimed and matched challans.

Assessing officer approval is not required if OLTAS challan correction made through website for change in the following fields only as mentioned below:-

1. Financial Year- Financial Year can be corrected in relation to the date of deposit of challan is 20-06-2018, the F.Y. can be only corrected to 2018-19.

2. Minor Head Code (200 and 400) – Minor Head 200 and 400 is allowed for correction through OLTAS. Challan Correction available on TRACES.

3. Major Head Code (20/21) – Correction in Major Heads – 20 (Company) and 21 (Non-company) can be corrected through OLTAS Challan Correction available on TRACES.

4. Nature of Payment – Correction in section code except  section code – 195 is possible through OLTAS Challan Correction available on TRACES.

This brochure should not be construed as an exhaustive statement of the law. For details -reference should always be made to the relevant provisions in the Acts and the Rules.

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