Article explains Important Information for 26QB Correction, Brief steps for 26QB Correction, Description for Requested Status of 26QB Correction, Pictorial guide for 26QB Correction, Procedure for 26QB Correction with E- verified (Internet Banking), Pictorial guide for 26QB Correction with E-Verified (Internet Banking), Pictorial guide for 26QB Correction with DSC (Digital Signature Certificate), Pictorial guide for 26QB Correction with AO Approval and Pictorial guide for Approval by Seller/Buyer for 26QB Correction.
Page Contents
1. PAN of Buyer
2. PAN of Seller
3. Financial Year
4. Amount Paid/Credited
5. Date of Payment/Credit
6. Date of Deduction
7. Property Details –(Complete Address of the Property)
8. Total Value of Consideration (Property Value)
NOTE :
1. Furnish hard copy of Acknowledgement of form 26QB correction along with Identity Proof.
2. PAN Card.
3. Documents related to Transfer of Property.
4. Proofs of payment made through Challan for 26QB.
OR
With “E-Verified (Internet Banking) Service” user can submit 26 QB Correction statement without approval from Assessing Officer and without using DSC. (E-Verified Service option is not available for NRI Taxpayers ).
Status | Description |
Available | Once the request for correction is available for correction, status will be “Available”. |
Pending for AO Approval | Once the correction is submitted and validated correction will be displayed with status as “ Pending for AO Approval”(If user has chosen AO approval option). |
Pending for PAN Approval | Status will be “Pending for PAN Approval” if Correction is submitted for Seller or buyer approval. |
Submitted to ITD | Status will be submitted to ITD if request is approved by AO or Seller/Buyer (if required) |
Processed | Status will be processed if request is processed by TDS CPC . |
Cancelled | Status will be cancelled if request is cancelled by Buyer before Approval/Processing . |
Step 1 : Login to TRACES website with your “User ID”, “Password” and the “Verification Code”.
Step 1 (Contd.) : Landing page will be displayed on Screen.
Step 2 : Select option “ Request for Correction ” under “Statements/Forms” tab to initiate correction request.
Step 2 (Contd.) : 26QB Correction Checklist will display.
Step 2 (Contd.) : After clicking on Proceed, Pop-Up window will display in case DSC is not registered.
Step 3 : Enter relevant “Assessment year”, “Acknowledgement Number” and “PAN of Seller” according to filed 26QB, then Click on “File Correction”.
Step 3 (Contd.): Request number will generate after submission of Correction Request.
Step 4 : Go to “ Track Correction Request” option taxguru.in under “Statements/Forms” tab and initiate correction once the status is “ Available”. Click on “Available” status to continue.
Step 5 : Mention CIN details as per challan paid against 26QB then click on “Proceed”
Step 6 : User can select on “Financial Year and Tax applicable” option to change F.Y in 26QB.
Step 6 (Contd.) : After clicking on “Edit” Button Message will pop up on the screen.
Step 6 (Contd.) : Click on “Save” to save updated details then click on “Submit Correction Statement”.
Step 6 (Contd.) : Select “Buyer Details” option to update respective details.
Step 6 (Contd.) : Select “Seller Details” Tab to update respective details.
Note : On applying correction of Buyer or Seller or both, user will be asked to confirm if PAN of seller is known or unknown.
Step 6 (Contd.) : User will be asked to confirm if PAN of the Seller is known or unknown.
Step 6 (Contd.) : User is selecting “AO” tab if PAN of the Seller is Unknown then below dialogue box will pop up.
Step 6 (Contd.) : User is navigated to final submission page where buyer is prompted with the below dialogue box.
Note : The request gets submitted to AO for approval post PAN’s approval if needed.
Step 6(Contd.) : Select “Property Details” to update Property Address details.
Step 6(Contd. ) : Select “Amount Paid/Credit” to update respective details.
Note : If Amount Paid/Credit is updated , Correction submitted will require Seller’s approval.
Step 7 :Screen will display to “Confirm details” after Submission of Correction Statement.
Step 7 ( Contd.) : Screen will display to “Confirm details” after Submission of Correction Statement
Step 7 ( Contd.) : Screen will display to “Confirm the details” after Submission of Correction Statement.
Updated details will be highlighted in Yellow Colour
Step 8 : Profile details will be populated as updated on Traces. Click on “Submit Request” to Submit Correction Request.
Step 9 : After submission of Correction Request if DSC(Digital Signature Certificate) is not registered user gets the option to validate correction through E-Verify (Internet Banking) or AO Approval .
Step 9 ( Contd.) : After submission of Correction Request if DSC(Digital Signature Certificate) is registered user gets the option to validate correction through E-Verify (Internet Banking), AO Approval OR DSC(Digital Signature Certificate).
Step 1 : User need to Click on E-Verified (Internet Banking) option.
Step 2 : To E-Verify 26QB Correction , please login to your Bank Website and click on link “View 26AS”.
Step 3 : User will log in to Bank website and selects option “Click of view 26AS” then It gets navigated to a new page which shows link “E-Verified services on TRACES”.
Step 4 :User need to Click on “E-Verified Services on Traces” under “E- Verified Services Tab”.
Step 5 : After clicking on E-Verified Services on Traces, user gets navigated to the TRACES website with the Pre populated Username and PAN. User can login and continue 26QB correction.
Step 6 : Go to “ Track Correction Request” option under “Statements/Forms” tab and initiate correction once the status is “ In Progress”. Click on “in Progress” status to continue.
Step 7 : Mention CIN details as per the challan paid against 26QB.
Step 8 : Screen will display to “Confirm the details”.
Step 8 (Contd.) : Screen will display to “Confirm the details”.
Step 9 : Correction Statement submitted successfully message will display on the screen.
Step 10 : User can check submitted correction status under “Track Correction Request” option under “Statement/Forms”.
Step 1 : Click on “DSC(Digital Signature Certificate)” option If user want to validate “26QB Correction” with DSC
Step 2 : After validating DSC(Digital Signature Certificate), Click on “Submit Request”.
Step 3 : “Correction ID” will generate after successful submission of correction.
Step 3(Contd.) : User can check submitted correction status under “Track Correction Request” option under “Statements/Forms”.
Step 1 : Click on “AO Approval” option if user want to do 26QB Correction with “AO Approval”
Step 2 : Correction ID gets generated after successful submission of correction.
Step 3: 26QB Correction – Acknowledgement to be submitted to AO for approval.
Step 4: Correction status will be “Pending for AO Approval”. User can check AO details in “AO Detail” column under Track Correction Request” option.
Step 5: After Approval from AO , Correction will be submitted to ITD.
Step 6 : Final Correction status will be “Processed”.
Step 1 : Seller or Buyer has to select on “Pending for PAN Approval” status under “Track Correction Request” Option in “Statements/Forms” Tab.
Step 2 : User can check the edited fields in “26QB Correction”
Step 2(Contd.) : User can check the edited fields in “26QB Correction”.
Step 2(Contd.) : Click on Approve button to Approve Correction Request.
Step 2(Contd.) : Click on Reject button to Reject Correction Request.
i have filed 26QB, but the pan of buyer was wrong. so after necessary corrections made as you explained above, then coming to e-verification through net banking it is unclear weather to logon to bank a/c of person who actually deducted tax or to logon to wrong deductor/buyers bank a/c. in which bank site i have to log in to e-verify. as in my case buyer pan was wrongly entered. please explain.
i have filed 26QB, but the pan of buyer was wrong. so after necessary corrections made as you explained above, then coming to e-verification through net banking it is unclear weather to logon to bank a/c of person who actually deducted tax or to logon to wrong deductor/buyers bank a/c. in which bank site i have to log in to e-verify. as in my case buyer pan was wrongly entered. please explain.
i have filed 26QB,
I have filed statement of correction for 26QB but when i am clicking on Pending for approval for the purpose of approving , No further steps/ action proceeds. I don’t understand its reason .
SIR I NEED HELP
CORRECTION IN ASSESSMENT YEAR IN 26QB CHALLAN. BUT I CAN NOT LOGIN IN TRACES
9722487348
The procedure is explained nicely. nevertheless one lacunae remains and that is when the correction request in form No. 26qb is approved, then what is the procedure to download corrected form No. 26 qb that is not explained.
kindly explain the procedure of how to download corrected Form No. 26QB.
By mistake TDS deposite withone seller pan , there are two seller , byer PAN NO ADQPA4163M ,SELLERS PAN NO,S BWDPS9204C and EYTPK 4699J , TDS deposite with one PAN i.e. BWDPS9204C ,amount of TDS Rs 103000/-ref no. AG9173684 , date of property purchase 06 FEB 2020 , and deposite of TDS date 11 FEB 2020 , with nett banking ICICI BANK ref no.BSR CODE 6390340 , tender date 11/02/2020 challan s.no. 00083, correction in 26QB required regards VEENA ARORA
When I (Buyer) paid the TDS on sale of property through FORM 26QB, I paid excess amount. Later on I tried to correct form 26QB online and verified through e-banking, now it is showing “Pending for PAN approval” in correction status. However, the link is not active. What to do? Who will approve it buyer or seller? Shall I get back the excess amount paid as refund?
I have raised correction request on form 26QB, the correction request is approved. How to download the corrected Form 26QB?