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Correction in oltas challan-new mechanism

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN")   (114102 Points)

13 September 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


 14 Replies

Prakash (Chartered Accountant) (560 Points)
Replied 13 September 2011

Sir, small query

These days everybody is paying through online, and all those payments are initiated from bank central servers not the account holders branch

 

In this scenario how can we rectify it, are we required to approach banks head offices, I practially faced it, my branch fellow said it is out of their boundary, so please mail head office

 

whats your view on it

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN")   (114102 Points)
Replied 13 September 2011

Yes you wil have to mail to head office. And these update is applicable for Challans with date on or after 01.09.2011/

1 Like

Karan Teli (Life Is just an Illusion...!!)   (4573 Points)
Replied 13 September 2011

Thank u very much sir...!!

please keep sharing...

SANYAM ARORA (“It's hard to beat a person who never gives up.”)   (20158 Points)
Replied 13 September 2011

Thanks  A LOT 4 SHARING SIR.......!!!!

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS))   (11763 Points)
Replied 14 September 2011

very useful posting----------good work done by Sanju

Aditya Maheshwari (CA in Practice) (35817 Points)
Replied 14 September 2011

Thanks for sharing a useful post and nice initiative by OLTAS.

S.Siju Gemin (Accounts Manager) (230 Points)
Replied 14 September 2011

Thanks for your update

-Siju

Sunshine (Helping All) (10575 Points)
Replied 14 September 2011

Very useful sir..thanx

J.K.RAMASWAMY (PROPRIETOR) (22 Points)
Replied 15 September 2011

Sir

We had paid a challan online  in June 2011 with an error in the asst year. The Bank declined tocorrect the same claimng it was not in theirhands.We ha filed a written rquest to the Assessing Officer for the correctio . We are yet to receive any communication. How do w proceed ?

Gurunath (Auditor) (38 Points)
Replied 24 September 2011

very good & informatie article

Mohit Goyal (JOB) (94 Points)
Replied 09 April 2012

very useful info shared by you ....thanks keep sharing

 

Senu Reddy (ca final) (291 Points)
Replied 16 August 2014

sir im from hyderabad i have tds paid in excess for fy 2013-14 i want adjust for the year 14-15 please provide me the adress to whom i should write a letterTDS Circle ward no

 

Raghunath B (CHARTERED ACCOUNTANT) (26 Points)
Replied 01 October 2016

Affidavit format for Challan Correction

Raghunath B (CHARTERED ACCOUNTANT) (26 Points)
Replied 01 October 2016

Affidavit format for Challan Correction


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