Challan Correction

 

New Procedure of challan correction by banks (for physical challans):

Under this mechanism, for income tax payments made on or after 1.9.2011, the following fields can be got corrected through the concerned bank branch:

Correction Field Name                                 Period of Correction Request

                                                                         (from challan   deposit date)

ü  Assessment Year--------------------------------------------7days

ü  TAN/PAN----------------------------------------------------7days

ü  Total Amount-------------------------------------------------7days

ü  Nature of payment (TDS Codes)

ü  Major Head Code                                       ------------ Within 3 Months

ü  Minor Head Code

The time window for correction by the bank is 7 days from the date of receipt of correction request from the tax-payer.

Conditions:

The changes can be made by the banks, subject to following conditions:

i. Correction in Name is not permitted.

ii. Any combination of correction of Minor Head and Assessment Year together is not allowed.

iii. PAN/TAN correction will be allowed only when the name in the challan matches with the name as per the new PAN/TAN.

iv. The change of amount will be permitted only on the condition that the amount so corrected is not different from the amount actually received by the bank and credited to Govt. Account.

v. For a single challan, correction is allowed only once. However, where 1^st correction request is made only for amount, a 2nd correction request will be allowed for correction in other fields.

vi. There will be no partial acceptance of change correction request, i.e. either all the requested changes will be allowed, if they pass the validation, or no change will be allowed, if any one of the requested changes fails the validation test.