Income Tax:-Pan/Tan/Assessment Year/Major Head change

Thursday, September 13, 2012 | comments

Friends, 

Correction in TAX Challan

        It is human error to mention wrong PAN/TAN, Assessment Year, Major Head, Minor Head or Nature of payment while depositing any challan in Bank. The following modifications time period are only applicable on physical challans deposited in Bank. 



Correction in OLTAS challan
NSDL receives tax collection data as uploaded by the bank. NSDL is not authorized to carry out any changes in the data sent by the bank to TIN.
The fields that can be corrected by the Taxpayer through Bank are tabulated below:
Sl. No.Type of Correction on ChallanPeriod for correction request (in days)
1PAN/TANWithin 7 days from challan deposit date
2Assessment YearWithin 7 days from challan deposit date
3Total AmountWithin 7 days from challan deposit date
4Major HeadWithin 3 months from challan deposit date
5Minor HeadWithin 3 months from challan deposit date
6Nature of PaymentWithin 3 months from challan deposit date

Note :
1.   Above correction mechanism is applicable only for physical challans with deposit date greater than equal to September 1,       2011.
2.   Any correction request initiated by the taxpayer after the time limit specified above shall be rejected by Bank.
3.   For challans with challan deposit date from September 1, 2011 to September 30, 2011, the time limit for correction in TAN/PAN,       Assessment Year and Amount will be within 45 days from challan deposit date.
4.  The fields that can be corrected and the entity authorized to carry out corrections on challan with deposit date less than       September 1, 2011 are as below:
Sl. No.Type of Correction on ChallanPerformed By
1PAN/TANAssessing Officer
2Assessment YearAssessing Officer
3Major HeadAssessing Officer /Bank
4Minor HeadAssessing Officer
5Nature of PaymentAssessing Officer
6Total AmountBank
7NameBank

5.  For rectifications in challans paid through online mode (internet challan) , taxpayer may contact their concerned Assessing Officer (AO) of the Income Tax Department (ITD).
6.  More details on Challan Correction Mechanism available at
http://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf
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