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of <h1>Income Tax Directorate Withdraws SOP for Form 26QB Corrections; Online System Now in Place u/s 194IA.</h1> The Directorate of Income Tax (Systems) announced the withdrawal of the Standard Operating Procedure (SOP) for correcting Form 26QB related to TDS on property sales under Section 194IA of the Income Tax Act. This decision follows the introduction of an online correction facility by the CPC-TDS, effective from February 29, 2016, allowing buyers to amend Form 26QB details directly. The online system replaces the previous manual process and requires digital signatures for certain corrections. TDS officers will verify corrections submitted without digital signatures. The new process aims to streamline and simplify the correction of TDS-related data.
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