HOW TO CORRECT WRONG PAN/ASSESSMENT YEAR IN CHALLAN

Most of the Taxpayers are having a lot of problems in case of wrong details are entered in their Income Tax challan or wrong details are posted by their banks. In such cases the tax credit is not given by bank since no entry is shown in Form 26AS. Thus it leads to a lot of hardship to assesses.

In this post we are going to discuss ways in which you can correct your details in your challan.

1. THROUGH BANK-

Under OLTAS (On Line Tax Accounting System), the physical challans of all Direct Tax payments received from the deductors / taxpayers are digitized on daily basis by the collecting banks and the data transmitted to TIN (Tax Information Network) through link cell.

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

2. THROUGH ASSESSING OFFICER
After the window period available to banks for challan correction, the assessee can make a request for correction to his or her assessing officer, who is authorized under the departmental OLTAS application to make such correction in challan data in bonafide cases, to enable credit of the taxes paid, to the concerned assessee.


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