CORRECT MISTAKES MADE AT THE TIME OF PAYING INCOME TAX

MISTAKES WHILE PAYING INCOME TAX-

Taxpayers file their Income Tax Returns (ITR) and it might happen sometimes that the taxpayers have made a mistake while entering their details. Taxpayers make payments of self-assessment tax, advance tax, or any other tax online. It may happen that the taxpayers may have entered the wrong assessment year, the wrong category of the tax, or have wrongly entered the amount.

There are two ways through which a taxpayer can pay their taxes:

  • Through online payments- by logging into the E-filing portal of the Income Tax Department.
  • Through physical submission of the challans at the bank.

CORRECTION METHOD FOR TAX PAID ONLINE-

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If the taxes are paid online by a taxpayer, in that case, the Assessing Officer (AO) of the taxpayer will be able to help with the correction in the challan.

To know your Assessing Officer (AO)-

  • Log into the official E-portal of the Income Tax Department.
  • On the homepage, under the ‘Quick Links, click on the ‘Know Your AO.’
  • A web page will open, asking you for your mobile number and your PAN number.
  • Enter the OTP that you receive on your mobile number.
  • The details of your Assessing Officer will then be displayed on your
  • You will then be required to visit your Assessing Officer to make the necessary changes in your Income Tax Return challan.

CORRECTION METHOD FOR TAX PAID OFFLINE-

In case if the tax is paid through the bank branch, then the bank can help with the correction process:

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  • You need to fill up a ‘Request for Correction’ form in the bank branch, where the initial payment was made.
  • Submit the original Income Tax challan which you received along with a copy of your PAN card.

There is a certain time limit within which the correction can be done if approached by the bank branch. The time limit for specific correction required is;

  • Amount of tax – within 7 days from the deposit of challan
  • Assessment year – within 7 days from the deposit of challan
  • Major head code – within 3 months from the deposit of challan
  • Minor head code – within 3 months from the deposit of challan
  • PAN of the taxpayer – within 7 days from the deposit of challan
  • Nature of payment – within 3 months from the deposit of challan

In case the taxpayer misses the time limit for the correction process, then the taxpayer needs to approach their Assessment Officer (AO) to help with the correction.

The bank branch is allowed to correct only certain conditions, which are:

  • Assessment year and Minor head. But, both cannot be corrected at the same time.
  • PAN or TAN cards, only if the name of the person matches the old and new ones.
  • Amount of tax, only if the amount received by the bank initially is the same as the corrected amount.
  • Correction for any particular field is allowed only once.

The correction requests filed are either completely corrected or rejected. If any correction request fails the criteria, the entire request will be rejected.

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