How many Times can We Correct 26QB?

Wondering how many times can we correct 26QB?? The amount that is changed may only be changed provided that it does not differ from the amount that was really received by the bank and credited to the government account. Corrections are only permitted once for a single challenge.

How to Do Rectification of Form 26QB?

You can correct Form 26QB (used for TDS on property sales) online. Here are the details:

1. Critical Fields: You can correct critical fields (allowed twice only) and non-critical fields.

2. Process:

• Log in to the TRACES website as a taxpayer.

• Select “Request for Correction” under the “Statements/Forms” tab.

• Enter relevant details and submit the correction request.

• Track the correction request status and proceed with edits when available.

When correcting Form 26QB, you can make changes in both critical and non-critical fields. Here’s a breakdown:

Critical Fields (Allowed Twice Only):

1. PAN of buyer

2. PAN of seller

3. Financial Year

4. Amount paid/credited

5. Date of payment/credit

6. Property details

7. Total value of consideration

8. Payment Type

9. Total Amount Paid/Credited in previous installments

10. Total Stamp Duty Value of the Property

Non-Critical Fields:

1. Address of buyer

2. Address of seller

3. Email ID and Mobile Number of buyer and seller

4. Date of Agreement/Booking

I hope you found this answer helpful.

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