Tds paid for the month of April 2026 was wrongly paid under old income tax act, 1961 in stead of new income tax act, 2025. After, we have tried for correction of challan in which one section was available for correction i. e. 393(1)(1)(i) related to 194D, but actually 194A is applicable in my case, how it will take to correct section and is any error in filing of TDS return?
You must first ensure the Challan is corrected (via the Bank or Assessing Officer) to match the correct section. Then, file a Correction Statement (Revised Return) on the TRACES portal to reflect the correct section code. Failing to do this promptly may lead to discrepancies in the deductee's tax credit and potential demand notices from the IT Department.
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