Tds

This query is : Resolved

Gowri Shankar Seshapu (Querist)
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31 October 2011 TDS was deducted U/S 192b , but while paying the TDS amount the Section was wrongly entered as 194B....!

Is there any chance of Rectification...!

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 October 2011 Write a letter to the TDS ward officer to correct the mistake and follow up for the change.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 October 2011 As per "Correction in oltas challan-new mechanism" it can be corrected by the bank Within 3 months from challan deposit date. Applicable only for Challan with deposit date greater than equal to September 1, 2011.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 October 2011 Correction in OLTAS challan

NSDL receives tax collection data as uploaded by the bank. NSDL is not authorized to carry out any changes in the data sent by the bank to TIN.

The fields that can be corrected by the Taxpayer through Bank are tabulated below:

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

Note :

1. Above correction mechanism is applicable only for Challan with deposit date greater than equal to September 1, 2011.

2. Any correction request initiated by the taxpayer after the time limit specified above shall be rejected by Bank.

3. For challans with challan deposit date from September 1, 2011 to September 30, 2011, the time limit for correction in TAN/PAN, Assessment Year and Amount will be within 45 days from challan deposit date.

4. The fields that can be corrected and the entity authorized to carry out corrections on challan with deposit date less than September 1, 2011 are as below:

Sl. No. Type of Correction on Challan Performed By
1 PAN/TAN Assessing Officer
2 Assessment Year Assessing Officer
3 Major Head Assessing Officer /Bank
4 Minor Head Assessing Officer
5 Nature of Payment Assessing Officer
6 Total Amount Bank
7 Name Bank

Source: https://www.tin-nsdl.com/oltas/oltas-note.php

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Gowri Shankar Seshapu

Gowri Shankar Seshapu (Querist)
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31 October 2011 Thank You mr.Sanjay Gupta

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