TDS CORRECTION tax year 2026-27
This query is : Resolved
20 May 2026
One of our client paid TDS for the month of April 2026 on 07.05.2026. By mistake they selected the Financial year 2025-26 in the 1961 IT coloumn instead of Income tax 2025 Tax year 2026-27. Please let me know how to correct the challan for the current year. Please advise.
20 May 2026
The deductor can easily correct the Financial Year online through the TRACES (TDS Reconciliation Analysis and Correction Enabling System) website without visiting the bank or the Jurisdictional Assessing Officer (AO).
Log in: Go to the TRACES portal (tdscpc.gov.in) and log in using your TAN credentials.
Navigate to Correction: Go to the "Statements/Payments" tab on the top menu and select "Challan Correction".
Request Correction: Click on "Request for Correction" and enter the details of the specific challan (BSR Code, Date of Tender, Challan Serial Number, and Amount) paid on 07.05.2026.
Select Fields: Select the field you want to change: "Financial Year".
Modify and Submit: Change the Financial Year from 2025-26 to 2026-27.
Authorization: Submit the request using a Digital Signature Certificate (DSC) or an OTP sent to the registered mobile/email (Aadhaar/PAN-based).
Processing Time: The status will change to "Submitted to Traces." It typically takes 2 to 3 working days for TRACES to update the financial year of the challan.
Note: While using TRACES for financial year correction, ensure the quarterly statement for that period has not already been processed with that challan.
Log in: Go to the TRACES portal (tdscpc.gov.in) and log in using your TAN credentials.
Navigate to Correction: Go to the "Statements/Payments" tab on the top menu and select "Challan Correction".
Request Correction: Click on "Request for Correction" and enter the details of the specific challan (BSR Code, Date of Tender, Challan Serial Number, and Amount) paid on 07.05.2026.
Select Fields: Select the field you want to change: "Financial Year".
Modify and Submit: Change the Financial Year from 2025-26 to 2026-27.
Authorization: Submit the request using a Digital Signature Certificate (DSC) or an OTP sent to the registered mobile/email (Aadhaar/PAN-based).
Processing Time: The status will change to "Submitted to Traces." It typically takes 2 to 3 working days for TRACES to update the financial year of the challan.
Note: While using TRACES for financial year correction, ensure the quarterly statement for that period has not already been processed with that challan.
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