Issue/Justification

Considering the fact that several mistakes were being reported which occurred on account of wrong punching of data in the OLTAS by the banks, the CBDT introduced a new challan correction mechanism for paper based payments of income tax. The said system has been appreciated by the assessees. Since, inadvertent mistakes can occur while paying the income tax online also, it is felt that challan correction system be made applicable to challans in respect of online payments of income tax also.

Suggestion

It is suggested that challan Correction Mechanism be made applicable to all types of challans including challans for online payments etc.

(SUGGESTIONS FOR REMOVING ADMINISTRATIVE AND PROCEDURAL DIFFICULTIES“ RELATING TO DIRECT TAXES)

Source-  ICAI Pre- Budget Memorandum–2018 (Direct Taxes and International Tax)

More Under Income Tax

Posted Under

Category : Income Tax (27925)
Type : News (13807)
Tags : Budget (1957) Budget 2018 (400) ICAI (2675)

Leave a Reply

Your email address will not be published. Required fields are marked *