Procedure to Apply for Correction of Tax Payment

1. Procedure to Apply for Correction of Tax Payment (TDS CHALLAN Correction) What if you make an unintentional mistake while making payment, such as selecting the incorrect assessment year, selecting the incorrect major head code, entering the incorrect number, incorrect PAN / TAN, etc., and a challan has already been generated? Such mistakes result in the deductee receiving no tax credit. The tax department recognizes that such clerical errors are inevitable and has built in a system to fix them. Let's look at the method for correcting TDS challan errors. Correction of challans may be done either online or offline. MODE OF TDS CHALLAN CORRECTION: JURISDICTIONAL ASSESSING OFFICER OLTAS OLTAS CHALLAN CHALLAN CORRECTION CORRECTION TRACE PORTAL BANK

2. Due to the errors TDS/TCS demand may arises to deductor which needs to get rectified as soon as possible Type of Correction To be made Time limit from Challan Correction Correction authority within timeline Correction authority after the expiry of timeline TAN to TAN correction Within 7 Days Bank Jurisdictional Assessing Officer PAN to TAN correction Within 7 Days Bank Jurisdictional Assessing Officer Major/Minor Within 3 months Bank Jurisdictional Assessing Officer Head code Nature of Payment Within 3 months Bank Jurisdictional Assessing Officer Total amount Within 7 Days Bank Jurisdictional Assessing Officer The bank's challan correction is subject to the following conditions: •The bank will not be able to correct your name. •No combination of Minor Head and Assessment Year corrections is permitted. •Only when the name on the challan matches the name on the new PAN/TAN can PAN/TAN correction be permitted.

3. •A change of amount is allowed only if the corrected amount is the same as the amount earned by the bank and credited to the Government Account. •A single challan for a specific area may only be corrected once. For example, if the first correction request is just for a change in the number, a second correction request would be allowed for changes in other fields. •There would be no partial approval of a change correction request, which means that either all of the requested changes will be accepted if they pass validation, or none of the changes will be allowed if any of them fails validation. The procedure for approaching a bank for challan correction is as follows: 1.The taxpayer must apply the correction request form (in duplicate) to the bank branch in question. 2. A copy of the original challan counterfoil must be attached by the taxpayer. 3.If challans in Forms 280, 282, or 283 need to be corrected, a copy of the PAN card must be attached. 4.The initial authorization with seal of the non-individual taxpayer must be added to the request form in the case of non-individual taxpayers. 5. For each challan, a different request form must be sent. Approaching the Assessing Officer for challan correction is done in the following manner: After the time limit for approaching the bank for challan correction has passed, a taxpayer can make a request for correction to the concerned assessing officer, who is allowed under the OLTAS application to make such corrections in challan data in bona fide cases, allowing credit of taxes paid to the concerned taxpayer. Other procedures are similar to those described above for approaching a bank.

4. Online Correction of TDS Challan TDS challan correction must be done online using ‘TRACES' (TDS Reconciliation Analysis and Correction Enabling System). To register on TRACES and submit an online challan correction, you must have a digital signature. STEPS FOR ONLINE CORRECTION OF TDS: •Login to TRACES website with user ID, password and TAN •Select ‘Request for correction' from the drop-down menu. •Enter the appropriate financial year, quarter, form type (if applicable), and the latest accepted token number. Correct the category to "Online" and then press "Submit." •You will be assigned a request number. •Under Defaults, click on ‘Go To Monitor Correction Request' and enter the Request number or Request period, then click on ‘View Request' or ‘View All Requests.' •To continue with the correction, click on Available / In Progress status when the request status becomes ‘Available.' •Provide valid KYC details. •Choose ‘Challan Correction' from the drop-down menu for the form of correction group. •Make the necessary changes to the selected file. •To apply your correction, click ‘Submit for Processing.' •A 15-digit token number will be produced and mailed to the e-mail address provided during registration.