https://www.taxtmi.com/news?id=2308 The Challan Correction Mechanism under OLTAS allows banks to correct Assessment Year, Major Head Code, Minor Head Code, TAN/PAN, Total Amount and Nature of Payment for physical challans (payments from 1.9.2011), with taxpayer request windows of seven days for TAN/PAN, Assessment Year and Amount and three months for other fields. Banks have seven days to act; corrections are subject to conditions including prohibition on name changes, validation matching for PAN/TAN and amount consistency with funds credited, one correction per challan (with a narrow exception), and mandatory documentary and submission procedures. Assessing officers may correct challans after the bank window. en-us Mon, 10 Oct 2011 10:50:52 +0530 Mon, 10 Oct 2011 10:50:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2308 The Challan Correction Mechanism under OLTAS allows banks to correct Assessment Year, Major Head Code, Minor Head Code, TAN/PAN, Total Amount and Nature of Payment for physical challans (payments from 1.9.2011), with taxpayer request windows of seven days for TAN/PAN, Assessment Year and Amount and three months for other fields. Banks have seven days to act; corrections are subject to conditions including prohibition on name changes, validation matching for PAN/TAN and amount consistency with funds credited, one correction per challan (with a narrow exception), and mandatory documentary and submission procedures. Assessing officers may correct challans after the bank window. News - Mon, 10 Oct 2011 10:50:52 +0530 https://www.taxtmi.com/news?id=2308