In this post, we have discussed the step-by-step process of online challan addition in TRACES for C9 correction.
The income tax department has eased its lengthy process by enabling the Addition of a new Challan through online correction.
The new rule by the Income Tax Department discontinues the C9 correction option in correction return filing. This option was previously used to add a new challan or transfer voucher in correction statements. This discontinuation is in effect from FVU Version 4.8.
The primary reason for discontinuing the C9 type of correction is to ensure that the payment of challans is appropriately made in due period. This includes the interest due to the delay in deduction or delay in challan payment or any late filing fee, if applicable. Also, it is to be reported during the regular e-return itself.
The abovementioned process is now done only through the Online Correction option in TRACES login.
The online correction facility is available for statements from FY 2007-08 onwards. This online correction is free of cost on the TRACES portal.
Online correction is done without requesting a Conso file. The user has to log in and file the penalty. The statement is processed in 24 24-hour time period.