Oftentimes, taxpayers encounter various errors when submitting their Income Tax payments, such as specifying an incorrect Assessment Year, depositing funds under the wrong category, indicating an inaccurate amount, or providing incorrect PAN/TAN details. Previously, there was no online platform available for rectifying these errors in the Tax Challan. However, the Income Tax Department has recently introduced a novel feature on the Income Tax portal dedicated to Challan Correction.
To access this feature, follow the outlined steps:
Step 1: Log in to the Income Tax Portal. Step 2: Click on the "Services" option in the Menu Bar. Step 3: Select "Challan Correction."
For Tax Challans related to Assessment Year 2020-21 onwards, the online Tax Challan correction functionality enables the following modifications:
- Adjustment of the Assessment Year (A.Y.).
- Alteration of the Applicable Tax (Major Head).
- Change in Payment Type (Minor Head).
When correcting errors in tax payments processed at a bank branch, the bank is authorized to amend the challan data based on specified time frames:Correction of the tax amount: Within 7 days from the deposit date of the challan.
- Correction of the assessment year: Within 7 days from the deposit date of the challan.
- Correction of the major head code: Within 3 months from the deposit date of the challan.
- Correction of the minor head code: Within 3 months from the deposit date of the challan.
- Correction of the taxpayer's PAN: Within 7 days from the deposit date of the challan.
- Correction of the nature of payment: Within 3 months from the deposit date of the challan.
Hence, it's imperative for taxpayers to initiate correction requests within the stipulated time frames. The process for making corrections at a bank branch is as follows:
- Complete a correction request form at the bank branch where the initial tax payment was made. Retain an acknowledged copy of the submitted request.
- Submit the original counterfoil of the paid challan along with the request, accompanied by a copy of your PAN card.
Should the correction request not be filed within the designated timeframe, taxpayers must contact their jurisdictional assessing officer to facilitate the correction process with their office. Banks are entitled to implement corrections based on specific conditions:
- Alterations to the taxpayer's name are prohibited.
- Corrections to both the minor head and assessment year cannot be simultaneously executed.
- PAN or TAN adjustments are permissible only if the name in the initial and corrected PAN/TAN match.
- Modification of the tax amount is allowable only if the revised amount corresponds to the original sum received by the bank.
- Each field can be corrected just once; subsequent corrections are disallowed.
- Corrections must encompass all requested fields, otherwise, the entire request will face
rejection.
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