Answer

1. F

   Facts

   From 1 April 2025, a six-year limit applied to correction statements. From 1 April 2026, the 2025 Act allows correction statements only within two years from the end of the tax year in which the original statement was due, and CBDT said older periods closed on 31 March 2026.

2. P

   Provisions and law

   • Sec 397(3)(b), Income-tax Act 2025 (old Sec 200(3))Deductor must file quarterly TDS statements and may file correction statements
   • Sec 397(3)(b), Income-tax Act 2025 (old Sec 200(3))Quarterly TDS statements (Forms 138, 140, 144) and correction statements
3. A

   Analysis

   Example: a Q3 FY 2025-26 statement was due 31 January 2026, so the year it was due ends 31 March 2026 and corrections are allowed until about 31 March 2028 under the new limit. CBDT said corrections for FY 2018-19 Q4 to FY 2023-24 Q3 were accepted only until 31 March 2026. Fix defaults early, because a time-barred error cannot be corrected and the deductee loses credit.

4. C

   Conclusion

   1. 1List open defaults by quarter and year
   2. 2Check whether each is still within the correction window
   3. 3Prioritise the oldest open quarters
   4. 4File corrections and track processing
   5. 5Keep the CBDT notice on time limits on file

This limit changed twice in two years; check the latest notice before relying on a date.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.