Hi @msr
There is no such requirement to physically visit the AO. The AO will approve the request online if everything seems to be correct.
You can keep a regular check on the portal.
Thank a lot for the quick reply @Shrutika_Shah
One more clarification please, will it still go to AO if correction is done with e-verification for payment date or deduction date for first correction? And I guess even if I cancel this correction and do a e-verification on 2nd correction, it will by default go to AO as this will be my 2nd correction?
Hi @msr
All the corrections that you have made will go to the AO for approval.
Thanks again @Shrutika_Shah
Hi, I have 2 queries.
- There are 3 parties as the buyers of the flat, so should I file 3 different 26QB forms.
- If yes for point 1 above, then if the flat value is 70 lakhs, the TDS will be 70 thousand, in this case what amount should I be entering in the page where it is asking for the amounts to be entered for “Total Amount Paid/ Credited to seller” and “TDS Amount” in each of the buyer parties 26QB TDS form?
Should the amount paid be divided by 3 which is 70 lakhs/3 and same for the TDS which is 70 thousand/3?
Thanks
Hi @Vinay_Digi
In this case, 3 different parties must file 3 different 26QB.
The amount paid should be divided by 3 and the same for TDS, and should be reported accordingly in individual 3 forms.
hello! I need some assistance with Form26QB correction as I made a mistake in the date of payment and it came back with default. I am receiving the following error when I try to request correction.
- There is no data available for the specified search criteria
- Reasons can be:
-
- There is no statement filed for the searched criteria. Please verify Assessment Year, Acknowledgement Number and PAN Buyer and Seller
-
- No challan has been deposited yet for the 26QB
I am also unable to download the Jurisdiction report and it says:
The latest statement filed for the specified search criteria is not processed, please check later.
What needs to be done here? Is there a way to file correction using e-verification method?
Hello @Sangeeta,
Seems like your Form 26QB is not processed yet. You can check the status on TRACES portal under statements tab and statement status if it is processed or not. If not, you can wait for it to get processed to request for correction and download justification report.
If you need help in correction, we can assist you for the same. You can book a Meet where an expert will help you.
Hope this helps!
Thank you for your prompt response Niyati. I do not see the option of Statement status under Statements/Forms tab. However, when I checked the Default summary, I get the following message:
- The latest statement filed for the specified search criteria is not processed, please check later
I also received the TDS intimation a day before, any idea how many days does it usually take to process the Form 26QB after receiving initimation?
Hello @Sangeeta,
You need to check the status on TRACES portal.
It takes around 6-7 days for TDS forms to get processed. You can wait if such time has not passed.
Thank you! Appreciate your help 
Thank you so much @Shrutika_Shah!
One follow up question : Should I divide the amount and TDS equally in the 3 26QB form, eventhough the actual contribution is not equal by the 3 parties? Or should I file as per the proportion of each parties contribution ?
Hey @Vinay_Digi,
The TDS will be divided proportionally to the amount of contribution made.
Thanks @Surbhi_Pal !
I am now able to file for correction of 26QB. I do have a query, the installment was paid in Oct 2023, but since there was a mistake in the amount credited date, the financial year shows as 2021-2022.
If I correct the amount credited date, will it automatically be updated?
And for “Total amount paid/ credited in previous installments” does the total amount need to be divided between the two buyers?
Hey @Sangeeta,
Yes, the financial year will get automatically updated. Moreover, if there are two buyers, the TDS amount needs to be divided proportionately between the two, and two form 26QB needs to be filed.
Hi Guys,
I am very new to all this TDS things, recently i have purchased a property and I was informed to pay TDS but there was a mistake of Date of Payment and Date of Deduction.
I received a mail and text messages as follows : “Defaults have been identified in the Regular statement filed by you for Acknowledgement Number AK10440474 and processed by ITD u/s 200A. Refer attached intimation for further details. Detailed computation of defaults is available in Justification Report which can be downloaded through TRACES. Please login to TRACES www.tdscpc.gov.in to request for Justification Report for the statement.”
Based on the instructions of the mail , I created the traces account and was able to login to the portal and viewed by defaults and files for correction.
After that I was able to make the changes and submit it for correction.
"Correction statement submitted successfully!
Correction statement for Acknowledgement Number AK10440474 has been submitted. Correction ID for this statement is 279004. You can check the status of the statement in ‘Track Correction Request’ under ‘Statements/Forms’ menu.
You are requested to print the Form 26QB Correction acknowledgement and submit the duly signed document along with supporting document for the corrections made to your Jurisdictional Assessing Officer within 14 days from the date of transmitting the data."
Now I am unable download the ack receipt for the correction and status is like Pending for AO Approval and AO details are empty.
Please let me know what can be the next step to complete this , should I need to reach out to the AO office or please do the needful
Hey @raghav_munna,
There’s no action required from your end. As the correction was filed today itself, you will have to wait for approval from the AO. It would take approximately around 15-30 days for AO’s approval.
Hope this helps!
1 Like
Thank you , do i need to go the incorm tax office for anything or its not required