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How to correct mistakes made at the time of paying income tax
November, 24th 2021

At the time of paying self-assessment or advance tax, it is important to ensure that the assessment year and code for category of taxes to be paid selected by you is correct. If you have selected the wrong option, then this could lead to discrepancy in the taxes deposited by you and what is reflected in Form 26AS for a particular financial year. Consequently, you will not be able to claim tax credit for the same at the time of filing income tax return (ITR).

Here is a look at how taxes are paid and how to correct any mistakes made at the time of paying self-assessment tax.

How to pay tax and what the common mistakes taxpayer make
There are two ways to pay advance or self-assessment tax:
(1) Online via NSDL website
(2) By visiting bank branch and paying taxes via physical challans

As per chartered accountants, taxpayers often make the mistake of selecting the wrong assessment year for which tax payment has to be made. Assessment year is the year following the financial year for which ITR has to be filed.

For instance, for FY 2020-21, the assessment year is 2021-22. Thus, the tax paid by you now for FY 2020-21 will be called self-assessment tax. Further, you will have to select AY 2021-22 at the time of making the payment. However, if you are depositing advance tax now for the current fiscal, then assessment year you should select is AY 2022-23 as you will be depositing for FY 2021-22, i.e., the on-going financial year for which ITR will be filed next year.
How to correct a mistake?
Sujit Bangar, Ex-IRS officer and founder of Taxbuddy.com, an ITR filing website says, "If a mistake has been made at the time of paying taxes, then the quickest way to rectify it is by visiting the jurisdictional assessing officer or by sending him an email requesting for correction. The newly launched income tax portal has mentioned the launching of 'Challan Correction' service. However, this service is yet to be made active for taxpayers. Once thi ..

The details regarding the 'Challan Correction' service have been mentioned in the 'Help section' of the new income tax portal.

How to find out details of your assessing officer?
As mentioned above, correction in tax challan details can be done by the concerned assessing officer. Follow the steps below on the new income tax portal to know details of your assessing officer:

Step 1: Visit new income tax portal: https://www.incometax.gov.in/iec/foportal
Step 2: On the homepage, under 'Services' tab, select 'Know your AO'.
Step 3: A new webpage will open on your screen. Enter your PAN and Mobile number. Click on continue.

Step 4: A one-time password (OTP) will be sent on your mobile number. OTP is valid for 15 minutes. Enter the OTP and click on 'Validate'.

The screen will show the details of your assessing officer along with his/her office address and email ID. You can either send an email for correction in challan details or physically visit his/her office for correction.

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