Oltas challan status

OLTAS (Online Tax Accounting System) is a system for collecting, accounting and reporting receipts and payments of direct taxes from all kinds of taxpayers, through a network of bank branches. Different kinds of direct taxes such as income tax, corporate tax, Tax Deducted at Source (TDS), Tax Collected at Source (TCS) can be paid with a single challan by visiting bank branches authorised by OLTAS or online. Once the taxpayers have paid the taxes, the bank that is collecting will capture the entire data of the challan and transmit it to the Income tax Department electronically. Banks also gather daily tax collection with the infiltration and data received by the Tax Information Network (TIN) from banks. This makes verification or status checking of tax payments online easier. Once taxes are paid by taxpayers, a portion of the counterfoil is torn and rubber-stamped and given to taxpayers by the collecting bank. In case of online payment, the challan is generated immediately. see also about: Table of Contents • • • • • • • • • Details about the challan The challan contains a challan identification number (CIN), which is a unique serial number with the following details: • A 7-digit BSR code that is allotted by the Reserve Bank of India to the bank branch where tax is deposited. • Dte of presentation of the challan (DD/MM/YY) • A 5-digit serial number of challan from the day it was presented in the bank. CIN acts as a proof of payment from a taxpayer which should be quoted in ...

OLTAS helps the department to not only acquire information about taxpayers, but also maintain records of the taxes that are paid through banks, when the taxpayer uploads the challan online. Before OLTAS came into existence, the process of paying tax was manual, long and prone to error. Therefore, after much groundwork, the Reserve Bank of India, Indian Bank Association, the Central Board of Direct Taxes Department and the Controller of Accounts came together to create OLTAS. The system was introduced in April 2004 and it had three main objectives: • Online collection of direct taxes • Accounting of direct taxes online • Online reporting of receipts and payments of direct taxes Banks and their respective network of branches ensure the smooth functioning of this system. It is important to note that direct taxes cannot be paid at any bank; only bank branches that have access to the OLTAS software can collect taxes. However, the number of bank branches offering this facility has increased over time. In fact, many banks offer the link to OLTAS through their net banking site. The On-Line Taxing Accounting System originally came into being for corporate taxpayers only. However, looking at its efficiency, the system was opened to individual taxpayers as well. How Does OLTAS Work? After you, as a taxpayer, go to an authorized bank or to its website and pays your direct taxes, your information is sent to the Tax Information Network (TIN). TIN, which was established by the National S...

OLTAS OLTAS Challan Status Inquiry The Income-tax Department has introduced with effect from June 1, 2004 a new system relating to payment of taxes, called Online Tax accounting System (OLTAS). The taxpayer friendly features of OLTAS include a single copy challan - cum - acknowledgment form instead of the present four-copy challan. Every challan will have a unique identification number called Challan Identification Number (CIN). This consists of BSR code (Bank branch code), Challan Tender Date (cash / cheque deposit date) and Challan Serial Number. With the help of CIN, every payment will be uniquely identified enabling online transmission of details of tax payments by banks to the Income Tax department. Tax Information Network (TIN), being established by National Securities Depository Limited (NSDL), provides a facility to the tax payers to inquire about the status of their challans over internet. Tax payers have to log on through http://tin.nsdl.com to view whether the challan for the tax payments is received by TIN. The following are the steps for viewing challan status: I) Select the tax payer option as displayed below: II) Enter BSR code (Bank branch code), Challan Tender Date (cash / cheque deposit date) and Challan Serial Number mentioned in the acknowledgment for challan given by your bank in the next screen as below: III) A message will be displayed till your request is processed as displayed below: IV) In case the challan is not received by TIN then the following...

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). 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 Protean. Single Copy Challans Prior to June 1, 2004, there were seven different types of challans for depositing direct taxes into the government account. These were replaced by three types of challans as follows: • A common single copy challan No. ITNS 280 for payment of Income tax, Corporation tax and Wealth tax; • A common single copy challan No. ITNS 281 for depositing Tax Deducted at Source from corporates or non-corporates; • A common single copy challan No. ITNS 282 for payment of Gift-tax, Estate Duty, Expenditure Tax and Other direct taxes. With effect from July 2005, the following challans should be used instead of the above mentioned challans: • A common single copy • A common single copy • A common single copy • A common single copy • A common single copy • A common single copy The collecting bank branch will put a rubber stamp on the challan and its counterfoil indicating a unique Challan Identification Number (CIN) co...

Online Tax Accounting System orOLTAS is a system for online collection, accounting, and reporting of Direct Tax receipts and payments from all types of taxpayers (companies and individuals) via a network of bank branches. Online tracking of challans and e-challans for taxpayers is another benefit of this system. OLTAS issues a single challan with a tear-off strip to the taxpayer instead of the traditional system's three challans. Data from taxpayers is transferred directly from banks to the Tax Information Network (TIN). The National Securities Depository Ltd. established and maintains TIN to manage all data and information about challans between the tax department and banks. Why was the OLTAS challanintroduced? Direct taxes were previously collected manually by the Reserve Bank of India or State Bank of India branches. Other branches of public-sector banks were also involved in increasing the number of tax collecting locations. Further, to better serve taxpayers, the accounting system for direct taxes was given special attention. The manual procedure of tax collection and accounting was difficult to maintain and had many faults and flaws. OLTAS was created in June 2004 to overcome the problems associated with the manual collection and accounting of direct taxes. It was also a result of the technological revolution that replaced electronic means with manual procedures. OLTAS was created with the following goals in mind: • Online direct tax accounting • Online collection of...

OLTAS Payment Challan Inquiry Online Tax Accounting System, shortly known as OLTAS, was initiated by the Income Tax Department in order to receive and maintain the tax records which are paid through banks through online upload of the challan. Introduction of OLTAS made collection, reporting and accounting of all the kinds of direct taxes easier. OLTAS was introduced with the collective efforts of the following bodies: • The Central Board of Direct Taxes, • The Reserve Bank of India, • The Controller of accounts, and • The Indian Banks Association. OLTAS facilitated the payment of taxes by the taxpayer through a single simplified copy of challan. As per OLTAS, the taxpayer has to use a single and common challan for the following: 1 Challan No. ITNS 280 For payment of regular income tax and corporate taxes 2 Challan No. ITNS 281 For the deposit of Tax Collection at Source ( 3 Challan No. ITNS 282 For payment of direct taxes like wealth tax, gift tax, estate duty, hotel receipts tax, securities transaction tax ( 4 Challan No. ITNS 283 For payment of Banking Cash Transaction Tax and Fringe Benefits Tax 5 Challan No. ITNS 285 For payment of equalization levy 6 Challan No. ITNS 286 For payment under Income Declaration Scheme, 2016 7 Challan No. ITNS 287 For payment under Pradhan Mantri Garib Kalyan Yojana, 2016 Payment and generation of CIN OLTAS challan when submitted to a bank branch for payment, the bank will tear-off the appropriate portion of challan and will give it back t...