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Remittance of tds under wrong section

SAURABH AGRAWAL (Chartered Accountant) (53 Points)

09 January 2016

Dear Sir/Madam, Is there any remedy for TDS on purchase of property which was ought to be remitted u/s 194IA by form 26QB, has been remitted u/s 194C by mistake.

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2 Replies

Mayur Kashinpure (Student) (341 Points)
Replied 09 January 2016

Originally posted by : SAURABH AGRAWAL
	Dear Sir/Madam, Is there any remedy for TDS on purchase of property which was ought to be remitted u/s 194IA by form 26QB, has been remitted u/s 194C by mistake.

It can be rectified. Kindly refer the below link;
https://www.tin-nsdl.com/oltas/oltas-note.php

vaibhav (student) (253 Points)
Replied 10 January 2016

As mentioned by Mayur, you may change the section as prescribed time limit,

Further, TRACES now come up with the new system, where challan deposited in one challan can be utilized in any section. However, its recommended to opt for correction in section code.