CPC-TDS enables online correction in form 26QB

DIRECTORATE OF INCOME TAX (SYSTEMS)

E-2, GROUND FLOOR, A.R.A. CENTRE, GROUND FLOOR,

JHANDEWALAN EXTENSION, NEW DELHI-110055

F.No. DIT(S)-2/Form 26QB/100/2015    Date: 22.03.2016

To,

All Principal CCsIT, PCsIT and CIT(CO) & Admn.

Sir /Madam,

Sub: Correction of statement cum challan relating to TDS on sale of property u/s 194IA of the IT Act –Withdrawal of Standard Operating Procedure (SOP)-reg

Kindly refer to the above.

2. Section 194IA of the IT Act relates to TDS on Sale of property. Form 26QB is an online statement-cum-challan to be filled and submitted by the buyer of the property for making TDS payment on sale of property. It contains details of buyer, seller, property being sold, sale consideration, tax deposit details etc. Being an internet challan, no correction can be made by the bank branches through the existing RT18 mechanism.

3. Keeping in view various representations received, SOP vide F. No.DIT(S)-2/Form 26QB/100/2015 dtd 20/04/15 was issued for processing the requests of change in form 26QB, on case to case basis, as per defined rules, till such time that an alternative online approach was finalised. Accordingly, the office of the ADGIT(S)-2 has been processing applications requesting for correction in form 26QB.

4. Now, CPC-TDS has enabled functionality for online correction in form 26QB from 29/02/2016. Communication No. CIT/CPC-TDS/15-16 dtd 02/03/2016 on ‘Enablement of 26QB correction facility and role of TDS officers’ from CPC-TDS is enclosed.

5.  In view of the online functionality being made available, the SOP dated 20/04/15 for correction in form 26QB challan is being withdrawn with immediate effect. The field formations and taxpayers may be advised to use the functionality made available by CPC­TDS.

Yours faithfully

(Sanieev Singh)

Addl. Director General (Systems)-2

Enclosure: As above