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Oltas 1

OLTAS (Online Tax Accounting System) allows banks to upload tax payment details to the Income Tax Department electronically. Banks generate files with tax data in the required format and validate them before uploading. Common single-copy challan forms were introduced in 2005 for different tax payments. The challan includes a unique 18-digit Challan Identification Number comprised of the bank branch code, date, and serial number. Banks capture challan data and send electronic and paper copies to tax authorities. Taxpayers can check challan statuses online using the TIN facility.

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117 views2 pages

Oltas 1

OLTAS (Online Tax Accounting System) allows banks to upload tax payment details to the Income Tax Department electronically. Banks generate files with tax data in the required format and validate them before uploading. Common single-copy challan forms were introduced in 2005 for different tax payments. The challan includes a unique 18-digit Challan Identification Number comprised of the bank branch code, date, and serial number. Banks capture challan data and send electronic and paper copies to tax authorities. Taxpayers can check challan statuses online using the TIN facility.

Uploaded by

Gaurav Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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WHAT IS OLTAS (ON LINE TAX ACCOUNTING

SYSTEM)

1. 1. Overview
Income Tax Department's initiative to receive information and maintain records of tax paid
through banks through online upload of challan details is named as OLTAS (Online Tax
Accounting System).
2. Data upload by banks
Income Tax Department has devised the file formats for uploading data regarding tax payment.
Banks are expected to generate and upload tax data as per these formats.
Once the file has been prepared as per the file format, it can be verified for correctness of its
structure using the File Validation Utility (FVU) provided by NSDL.
3. Single Copy Challans
With effect from July 2005, the following challans should be used instead of the above mentioned
challans:

1. A common single copy challan No. ITNS 280 for payment of Income tax and Corporation tax;

2.A common single copy challan No. ITNS 281 for depositing Tax Deducted at Source / Tax Collected at
Source (TDS/TCS) from corporates or non-corporates;

3.A common single copy challan No. ITNS 282 for payment of Hotel Receipts Tax, Estate Duty, Wealth
Tax, Gift-tax, Expenditure Tax and Other direct taxes.

4A common single copy challan No. ITNS 283 for payment of Banking Cash Transaction Tax and Fringe
Benefits Tax.
The collecting bank branch will put a rubber stamp on the challan and its counterfoil indicating a unique
Challan Identification Number (CIN) comprising of

1.Seven digit BSR Code allotted by RBI to that bank branch,(7)

2. Date of deposit (dd/ mm/ yy i.e. six digits), (6)

3.Challan serial number in 5 digits. (5)

CIN will, therefore, be unique for each challan through out the country (7+6+5)and will be used for
identifying the challan in the OLTAS.

The single copy challans will have a main portion at the top and a 'taxpayer counterfoil' at the bottom. The
bank will retain the main portion of the challan and return the 'taxpayer counterfoil' duly receipted to the
taxpayer. Because there will be only one copy of challan it becomes extremely important that the challan
is correctly filled and PAN of the taxpayer and PAN / TAN of the deductor as the case may be, is correctly
indicated in the challan, and that the right columns are ticked/ filled in the challan, and that the taxpayer
collects a proper stamped acknowledgement from the banks indicating the Challan Identification Number
(CIN) as indicated above.
The collecting bank will capture the entire data of the challan and transmit it electronically to the Income-
tax Department. The bank will send the paper copy of the challans alongwith printed scrolls to the Zonal
Accounts Officers. The information received from banks will be used by the Department to give credit for
the tax paid based on CIN.
Since the taxpayer will have only a counterfoil, the requirement to enclose proof of payment of pre-paid
taxes with the return of income as contained in 'Explanation' to Section 139 (9) shall stand fulfilled if CIN
of the challans for payment of self-assessment tax and Advance Tax is indicated in the return of income.  

Challan Status Inquiry


TIN provides a facility to the tax payers to enquire about the status of their challans over the internet.
Using this facility they can satisfy that your tax payment has been properly accounted for in your name.
The collecting banks can also use this facility to enquire about the status of the challans uploaded by
them.

bsr code of bank branch remain same in indirect taxes but some of bank braches are not authorised to
deposit indirect taxes though authorised to receive Direct taxes.

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