Sunday, July 14, 2013

Correction In OLTAS Challan :- Pan / Tan / Assessment Year / Total Amount / Major Head / Minor Head / Nature of Payment


               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 Challan
Period for correction request (in days)
1
PAN/TAN
Within 7 days from challan deposit date
2
Assessment Year
Within 7 days from challan deposit date
3
Total Amount
Within 7 days from challan deposit date
4
Major Head
Within 3 months from challan deposit date
5
Minor Head
Within 3 months from challan deposit date
6
Nature of Payment
Within 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 Challan
Performed By
1
PAN/TAN
Assessing Officer
2
Assessment Year
Assessing Officer
3
Major Head
Assessing Officer /Bank
4
Minor Head
Assessing Officer
5
Nature of Payment
Assessing Officer
6
Total Amount
Bank
7
Name
Bank

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). 

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