Sandeep Ahuja & Co.

Established in the year 1986, we are a leading chartered accountancy firm based in Delhi & NCR rendering comprehensive professional services which include statutory audit, internal audit, direct tax, transfer pricing, GST, bank audit, propriety audit, cost accounting, internal financial controls and risk advisory.

Wednesday, March 23, 2016

Procedure and time limit for correction in OLTAS challan paid online or offline

NSDL receives tax collection data as uploaded by the bank and is  not authorized to carry out any changes in the data sent by the bank or challans of tax paid
The fields that can be corrected by the Taxpayer through Bank are tabulated below:
Sl. No.
Type of Correction on Challan
Period for correction request (in days) from date of deposit of challan
1
PAN/TAN
Within 7 days
2
Assessment Year
Within 7 days
3
Total Amount
Within 7 days
4
Major Head
Within 3 months
5
Minor Head
Within 3 months
6
Nature of Payment
Within 3 months

Above mentioned rectifications can be made if payment is made in paper form i.e cash or cheque with challan submitted to  bank.
For rectifications in challans paid through online mode, taxpayer may contact their concerned Assessing Officer (AO) of the Income Tax Department (ITD).
For a single challan, correction is allowed only once. However, where 1st correction request is made only for amount, a 2nd correction request will be allowed for correction in other fields. There will be no partial acceptance of change correction request, i.e. either all the requested  changes will be allowed, if they pass the validation, or no change will be allowed, if any one of the requested changes fails the validation test.
Procedure of challan correction by Assessing Officers in case of physical and e-payment challans

After the above mentioned period where bank can make correction in challan  the assessee can get the correction made in challan by making  a request for correction to his assessing officer. The jurisdictional officer or officer authorized under the departmental for  OLTAS after receiving such application can make correction in challan data in genuine cases.



The Format of Correction request in Challan data Field by the assessee:

The Branch Manager/ Jurisdictional Officer

Address :


Sub : Request for Correction in Challan No: 280/281/282/283

Sir/Madam,
I request you to make corrections in the challan data of the Tax Payer  as detailed:

Taxpayer Details :

Taxpayer Name :


Taxpayer Address

Taxpayer TAN/PAN :


Name of Authorized Signatory in case of  assesse other than Individual


The Correction required in Data/ fields of the following challan :

Challan Details:


BSR Code
Challan Tender Date    Date of Challan
Challan Sl. No.

Fields for correction required:
.

Sl. No
Name of Fields
Please Tick if correction required
Original Details
Corrected Detail

1.
TAN / PAN



2.
Assessment Year



3
Major Head



4
Minor Head



5
Nature of Payment



6
Amount Paid







.
Signature
Tax payer/Authorized Signatory
Date
Note:

Mandatory Attachments:
1.Attach copy of original challan counterfoil.
2.Copy of PAN Card for correction in challan 280, 282, 283
3.Authorisation in case of assesse other than individual

4. Copy of Request Form in duplicate to the bank branch, separate request for separate challan 

6 comments:

  1. Thanks for details and get information of Pan Card Name Change procedure here and make correction in your pan card.

    ReplyDelete
    Replies
    1. If you permit we will publish the same in your name

      Delete
  2. This blog is so stunningly outstanding. Left its readers in the awe.
    Changelly echange

    ReplyDelete
  3. Can you please mention charges for carrying out the procedure of correction in the CHALLAN

    ReplyDelete
  4. I've mentioned wrong TAN while making E-Payment of TDS. I want to correct the TAN. I came to know that only physical challans can be corrected by bank and not E-Challans. Please guide what can i do.

    ReplyDelete
  5. Can adjust amount paid 281 challan in challan 280

    ReplyDelete