TRACES : OLTAS Challan Correction by Deductor

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Sakshi Shah

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TRACES means TDS Reconciliation Analysis and Correction Enabling System. It is the online portal for administration and implementation of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source). A Deductor can track the status of TDS or TCS Challan online on TRACES. To make correction of Unclaimed Challan and Matched Challan, the Deductor can use service of OLTAS Challan Correction on TRACES.

The approval of Assessing Officer is not required if OLTAS Challan Correction is made in the following fields:

Note: For correction or changes in Section Code 195, the Deductor should contact Jurisdictional Assessing Officer

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Steps for OLTAS Challan Correction on TRACES

  1. Log in to TRACES

    Log in to TRACES – Enter User Id, Password, TAN or PAN and captchaTRACES - Login Page for Taxpayers

  2. Navigate to the request for OLTAS correction

    Go to Statements / Payments > Request for OLTAS CorrectionTRACES - Request for OLTAS Challan Correction - Navigate

  3. Review the checklist

    Review the checklist and click on ‘Proceed’TRACES - Request for OLTAS Challan Correction - Checklist

  4. Proceed to the CIN details

    You can only correct Financial Year, Minor Head Code (200 and 400), Major Head Code (20/21) and Section Code. Click on ‘Proceed’TRACES - Request for OLTAS Challan Correction - Correct Financial Year, Major Head, Minor Head, Section Code

  5. Enter the CIN details

    Enter the Challan (CIN) Details – BSR Code, Date of Deposit, Challan Serial Number and Challan Amount. Click on ‘Go’TRACES - Request for OLTAS Challan Correction - Challan Details

  6. Proceed to edit the challan details

    If the details of the challan are valid, the user can proceed to edit the challan details. Select the new values of Financial Year, Major Code, Minor Code and Section Code. Click on ‘Submit’TRACES - Request for OLTAS Challan Correction - Enter New Values

  7. Verify the details

    The updated values will appear in the summary table. Verify the details and click on ‘Confirm’

  8. Authorised person

    Details of the Authorised Person will appear on the screen. Verify the details and click on ‘Submit’TRACES - Request for OLTAS Challan Correction - Verify Authorised Person details

  9. Success message

    A success message will appear on the screen with a unique Request Number. You will receive an email on submission of the OLTAS Challan Correction.

Steps to Track OLTAS Challan Correction Request on TRACES

Step 1: Log in to TRACES – Enter User Id, Password, TAN or PAN and captcha

Step 2: Go to Statements / Payments > Track OLTAS Challan Correction Request

Step 3: Search the request using Request Number, Date or View All

Step 4: The status of the correction request will appear on the screen. Click on ‘View New Values‘ to view the updated values. The new values will appear on the screen

FAQs

What are the different status for OLTAS Challan Correction?

1. Submitted to ITD – The correction request has been submitted to Income Tax Department for processing
2. Processed – The correction request has been approved by the Income Tax Department
3. Rejected – The correction request has been rejected by the Income Tax Department. The reason for rejection is mentioned in the Remarks column under Track Correction Request
4. Failed – The correction request cannot be made available due to some technical issues in data loading. The Deductor can submit a new request for correction

What is Unmatched / Mismatch Challan?

When the challan details as per TDS Statement do not match with the challan details as per OLTAS, the challan is considered as Unmatched / Mismatch Challan. The mismatch may be because of:
1. Mismatch in CIN (Challan Identification Number) Details
2. Mismatch in Challan Amount

What is OLTAS?

OLTAS (Online Tax Account System) is a system for collection, accounting and reporting of the receipts and payments of Direct Taxes from all kinds of taxpayers, online through a network of bank branches. 

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