As per Income Tax Department OTLAS (On line Tax Accounting System) when Tax Depositor having any mistake while depositing the Challan of all Direct Tax Payments in Bank, and they knowing after depositing the challan. And the data transmitted to TIN (Tax Information Network) through link cell. At present, the banks are permitted to correct data relating to three fields only i.e. amount, major head code and name. The other errors can be corrected only by the assessing officers. To rectify these errors. Income Tax Departmental has issued new guidelines effective 01.09.2011. This new mechanism allows Banks to correct physical challans only. For correction in electronic challan.
General Features : Fields that can be corrected by Banks.
General Features : Fields that can be corrected by Banks.
- Assessment Year.
- Major Head Code.
- Minor Head Code.
- TAN/PAN
- Total Amount
- Nature of payment (TDS Codes)
Time frame for Correction Requests:
- Request for correction has to be made within 7 days of the deposit of challan for correction in PAN/TAN.
- You can request to correct Assessment year within 7 day from the deposit of Challan in Bank
- Amount of payment should be corrected with 7 Days.
- Lastly you can be request within 3 months to make correction for toher fields of the deposit of challan.
Remedy available after time from is over:
- After laps of time frame, request can be made to the Assessing Officer.
Time frame given to bank to carry out correction:
- After receipt of requests, bank must carry out correction within 7 days.
The changes can be made by the banks, subject to following conditions:
- Correction in Name is not permitted.
- Any combination of correction of Minor Head and Assessment Year together is not allowed.
- PAN/TAN correction will be allowed only when the name in the Challan matches with the name as per the new PAN/TAN.
- The change of amount will be permitted only on the condition that the amount so corrected is not different from the amount actually received by the bank and credited to Govt. Account.
- 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 (both physical and e-payment challans):
- The tax-payer has to submit the request form for correction (in duplicate) to the concerned bank branch.
- The tax-payer has to attach copy of original challan counterfoil.
- In case of correction desired for challans in Form 280, 282, 283, the copy of PAN card is required to be attached.
- In case of correction desired for payments made by a tax-payer (other than an individual), the original authorization with seal of the non-individual taxpayer is required to be attached with the request form.
- A separate request form is to be submitted for each challan.
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