New Revised procedure for correction in OLTAS of Income TAX/TDS Challan after payment

0 comments Monday, August 29, 2011
Challan Correction Mechanism
Under OLTAS (On Line Tax Accounting System), the physical challans of all Direct Tax payments received from the deductors / taxpayers are digitized on daily basis by the collecting banks and the data transmitted to TIN (Tax Information Network) through link cell. At present, the banks are permitted to correct data relating to three fields only i.e. amount, major head code and name. The other errors can be corrected only by the assessing officers.
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