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How to Approach an Assessing Officer for Challan Correction Once the limit for approaching the bank for such a correction has expired, you can still make a request to the concerned assessing officer.

However, if you realise your error in time, you can initiate a TDS challan correction to rectify your errors and resubmit it with the tax authorities.

This process, also known as OLTAS (On-line Tax Accounting System) challan correction, provides a simple method of rectification for those filing TDS returns.

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TDS Challan Correction through Offline or Physical Challan The currently applicable process of TDS challan correction applies to both physicaloffline challans as well as TDS challans submitted online.

The current offline OLTAS challan correction procedure is applicable on payments made on or after September 1, 2011.

The following is a short list of various corrections that you are allowed to make with respect to errors in an offline or online challan submitted by you: Fields Requiring Correction(s) Authority who can Correct the Errors Limit for Submission of TDS Challan Correction Request Assessment Year Collecting bank or assessing office for physical challan Or Concerned assessing officer for online challan Max.

Minor Head Code Max.

Major Head Code Max.

Total Amount Max.

Name Assessing officer.

In case of both online and offline physical OLTAS challan correction) NA The timelines provided are indicative and may differ depending on the specific circumstances as specified by Income Tax authorities.

The following are some key facts to keep in mind before you initiate a TDS challan correction: Banks are not allowed to process name correction requests in the OLTAS challan.

In case there are multiple mistakes in a challan, each TDS challan rectification request has to be made separately to the appropriate authority.

OLTAS challan correction requests for PANTAN are allowed only when the name on the original challan (i.e.

PANTAN.

A change in the challan amount is allowed only when the corrected amount matches the amount received by the bank and credited to the government account.

Correction in the details is permitted only once for a specific field in the challan, however, multiple corrections to the same challan are allowed for different fields.

For instance, you can opt for an amount change in the challan only once.

However you can separately request TDS challan correction to the amount, TANPAN or any other minormajor head for the same challan.

No partial acceptance of any OLTAS correction request is possible.

Thus either all the correction request(s) for the TDS challan will be accepted or all the correction requests will be rejected.

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How to Download OLTAS TDS Challan Correction Form The TDS challan correction form can be downloaded for free from the website of various banks who accept challan payments on behalf of the tax authorities in India.

While each of these forms might have small differences, the format of a TDS correction form is basically the same.

Alternately, you could initiate a OLTAS challan correction request by providing the relevant correction details as per the applicable banks format using a blank paper form.

The following is a sample of the format applicable to a typical TDS Challan correction form: Fields to be filled out in the TDS Challan Correction Form The following are the key fields to be filled out in an OLTAS challan correction request form: Address of bank branch where the form is being submitted Tax payer details Name, Address and PANTAN details Authorised signatory name (if tax payer is a non-individual) Choose Challan number which requires correction (Challan 280Challan 281Challan 282 Challan 283) Details of TDS challan requiring correction BSR Code, Challan Tender date and Serial number.

Details of correction requirement for challan choose which challan detail needs correction and provide original (incorrect) entry as well as correct entry.

Signature of tax payerauthorised signatory The above application format can only be used if you are raising a TDS challan correction request with the bank subsequent to submission of the physical challan with the bank.

In case you want to request correction of a challan that has been submitted online, you need to raise the correction request online.

What is the Procedure to Approach the Bank for Challan Correction The following are the steps to be follow to approach a bank for the procedure: The taxpayer has to submit a duly filled and signed request form for TDS challan correction to their concerned branch of the bank.

Along with the form, they have to attach the original copy of challan counterfoil.

In case there is a non-individual taxpayer, the original copy of the authorisation with the seal will have to be submitted along with the request form.