OLTAS Challan

How to check OLTAS challan status online? The Income Tax Department of India (ITD) plays a significant part of the country’s economy. Since its inception, the department has taken a lot of steps to improve the economic and financial system of the country.

The Tax Information Network (TIN) is an initiative by the Income Tax Department of India which is responsible to modernise the current system for processing, monitoring, collection and accounting of direct taxes using information technology.

OLTAS Challan Status
OLTAS Challan Status

It has been established by NSDL e-Governance Infrastructure Limited on behalf of ITD. The Tax Information Network has two key sub-system- the Electronic Return Acceptance and Consolidation System (ERACS) and the Online Tax Accounting System (OLTAS). Know about some other challans like GRIPS chalan reprint status and many more.

The former consists of an infrastructure for interface with the taxpayers and a web-based utility for upload of electronic returns of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) and Annual Information Return (AIR) to the central system of TIN. The latter includes the details of tax deposited in various tax collecting branches across the country.

What is OLTAS?

OLTAS is an abbreviated form of Online Tax Accounting System. It serves as one of the key subsystems of the Tax Information Network. It consists of the details of tax deposited in various tax collecting branches which is daily uploaded on the central system.

In other words, it is the Income Tax Department’s strategy to acquire information as well as to keep a record of all the tax. Established in 2004, this system is mainly used in the collection of direct taxes from relevant individuals, companies, or organisations. It also keeps an account of the tax that has been paid via banks through the uploading of the details of the challan online. Latest NFSA challan status online.

How Does OLTAS Generate a Challan?

The main purpose of the Online Tax Accounting System is to collect, keep an account of the report of the receipts and payments of Direct Taxes from all kinds of taxpayers, online, through a network of bank branches. Any category of direct tax such as income tax, corporate tax, tax deducted at source (TDS), tax collected at source (TCS) etc can be paid using a single copy challan either online or by visiting bank branches authorised for OLTAS.

Once taxes are paid by taxpayers, the concerned bank collects all the information of the challan and transmits it electronically to the Income-tax Department. Once taxes are paid, a tear off portion of counterfoil is given to taxpayers post rubber stamping the collecting bank and in case of online payment, a challan is generated immediately.

The Challan contains a Challan Identification Number (CIN) which is a unique serial number. It includes the following:

  • 7 digits BSR Code allotted by RBI to the bank branch where tax is deposited
  • Date of presentation of the challan (DD/MM/YY)
  • 5 digits serial number of Challan in that bank branch on that day

The CIN is required to be quoted in income tax returns or communication with the income tax department as it serves as a proof of tax payment by a taxpayer.

Status Enquiry for Taxpayers

The Tax Information Network (TIN) helps the taxpayers by providing them with a facility by which they can make inquiries regarding the status of their challans. The procedure can easily be completed online. For the taxpayers, the status of the Challan can be checked by using the CIN or Tax Deduction and Collection Account Number (TAN) of the deductor.

  • CIN Based View- In this method, by entering the CIN Number and the tax amount, the taxpayer can view the following details:
  • BSR Code
  • Date of Deposit
  • Challan Serial Number
  • Major Head Code with description
  • TAN/PAN
  • Name of Taxpayer
  • Received by TIN on (i.e. date of receipt by TIN)
  • Confirmation that the amount entered is correct
  • TAN Based View- In this method, when the taxpayers provides his TAN and Challan Tender Date range for a particular financial year, he can view the following details:
  • CIN
  • Major Head Code with description
  • Minor Head Code
  • Nature of Payment

OLTAS Challan Status Enquiry for Banks

Not just the taxpayers, but the banks as well as the nodal banks can check on the status of challans that have been deposited in banks. In order to track online the status of their challans deposited in banks, the tax collecting branches and the nodal branches need to login with their username and password. There are two ways of doing so:

  • Branches of Collecting Banks- The tax collecting branch can access the total amount and total number of challans for each major head code by providing the branch scroll date and the major head code. After this, the collecting branch can view the following details-
  • Challan Serial Number
  • Challan Tender Date
  • PAN/TAN
  • Name of Taxpayer
  • Amount
  • Date of receipt by TIN
  • Nodal Bank Branch- By providing the nodal scroll date and the major head code-description, the nodal branch can view the following details:
  • Nodal Branch Scroll Number
  • Scroll Date
  • Major Head Code – Description
  • Total Amount
  • Number of Branches
  • Number of Challans

Further, for each Nodal Branch Scroll Number, following information can be accessed:

  • BSR Code
  • Branch Scroll Number
  • Branch Scroll Date
  • Total Amount
  • Number of Challans
  • Date of receipt by TIN

Conclusion

The Online Tax Accounting System is a new system that has replaced the old model, wherein taxpayers were required to fill in four challans. With the introduction of OLTAS, only a single challan must be filled. After the introduction of OLTAS, taxpayers do not have to send in copies of the challan or the acknowledgement along with their tax returns. Only the CIN is required to be mentioned with the tax returns. This has made it very easy for the people.

Hope you know all the details regarding OLTAS challns and how to check status of OLTAS Challan online. While OLTAS was originally set up to cover only corporate taxpayers, it eventually extended its scope to include both corporate as well as individual taxpayers before finally covering all branches of the 32 member banks all across India.

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