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 ChallanPeriod for correction request (in days)

1

PAN / TANWithin 7 days from challan deposit date

2

Assessment YearWithin 7 days from challan deposit date

3

Total AmountWithin 7 days from challan deposit date

4

Major HeadWithin 3 months from challan deposit date

5

Minor HeadWithin 3 months from challan deposit date

6

Nature of PaymentWithin 3 months from challan deposit date

Note :

1.Above correction mechanism is applicable only for physical challans 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 ChallanPerformed By

1

PAN / TANAssessing Officer

2

Assessment YearAssessing Officer

3

Major HeadAssessing Officer / Bank

4

Minor HeadAssessing Officer

5

Nature of PaymentAssessing Officer

6

Total AmountBank

7

NameBank

 

3 thoughts on “Correction in OLTAS challan

    1. For physical challans with deposit date greater than equal to September 1, 2011 the “Major Head” can be corrected by the Taxpayer through Bank by sending a correction request within 3 months from challan deposit date.

      For challans with deposit date less than September 1, 2011 the “Major Head” can be corrected by the Assessing Officer / Bank.

Leave a Reply

Your email address will not be published. Required fields are marked *