OLTAS system can help you Corporate Taxpayer, Individual Taxpayer, and Banks they can easily maintain all records relates to Tax Payments and collection. You can also check your Challan Status.
OLTAS is Online Tax Accounting System i.e. helpful to the income tax department for to maintain all transaction based information of tax payment by challan & Banks acceptance. This system is using by different taxpayer i.e. individual/companies/organization/HUF.
It is introduced in April 2004. There are three main objects to introduced online tax accounting system.
- Online collection of direct tax
- Online accounting of direct tax
- Payment and payment receipts reporting online.
Why OLTAS system in India?
In the past, the tax paid into banks. The government was collected the tax in a manual way by the banks. So by this way consume more time and possibility of error.
The OLTAS is establishing to overcome this error- prone and time-consuming process. The advisory group on tax rebuild the system. They have held a meeting under the chairmanship of Dr. Vijay Kelkar. The result of that meeting was recommended networking between income tax department and banks by Vijay Kelkar. They approve the document related to income tax by the online system.
This online system was developed by a core group of reserve bank of India, Indian Banks Association, central board of direct taxes, controller of accounts. It’s outcome known as OLTAS. Implementation of OLTAS parted into three pilot phases.
This system introduces to the only corporate taxpayers but, recently it is used for both taxpayer individual and corporate taxpayer.
The first step started between the years 2003 to 2004. In that, this system presents to a member of this system.
Then on 15th February 2004, projects are implementing for both corporate tax and individual income tax.
On 1st June 2004, the OLTAS system introduced to all over India and 32 authorized bank branches.
In actual, this project includes information related to Tax. The funds are collecting in a manual way. Then, they send it to the zonal account office.
On the 1st April 2005, the OLTAS project implemented commercially. Funds are transferring online.
The Banks had a fund solution collected on a day to day basis. That electoral data transferred by banks to the tin.
How does it work?
The IT Department has introduced a file format for uploading information relates to the Tax Payments. The all participating banks and its branches need to use this format to upload the taxpayer information to the income tax department.
As per OLTAS, every taxpayer needs to fill the equivalent challan to pay tax.
- Challan Number ITNS 280- corporate taxpayer as well as an individual taxpayer.
- Challan Number ITNS 281- TDS and TCS taxpayer.
- Challan Number ITNS 282- Paying different taxes i.e. Gift Tax, Wealth tax, Hotels Receipts Tax, Estate Duty, Securities Transaction Tax, Expenditure Tax, and Any other Direct Tax.
- Challan Number ITNS 283- Banking Cash Transaction Tax/ Fringe Benefit Tax.
When the taxpayer is going to submit it bank stamped on tear-off portion of the Challan which contains Challan Identification Number (CIN). CIN is important proof to pay tax.
The CIN contains,
- Bank BSR code- it is of that bank where you pay the income-tax.
- The date of Challan submission
- 5 digit serial numbers which showed to the taxpayer on which day the payment was made.
The CIN is taking as a proof of income tax payment. It can be used in future to file income tax return and also to use for future inquiries.
OLTAS CHALLAN status inquiry
The TIN is providing facility to taxpayers that can access information about their challan regarding the challan submit by them is correctly filled to the income tax or not.
The banks and taxpayer both can be “Check Challan Status”
First, I talk about Challan Status Enquiry for Tax Payer:
The taxpayer can Check their Challan Status Enquiry
- CIN Based view:
- TAN Based view:
CIN Based view:
- First, Visit The Official Site
- Now, select method of checking from CIN Based and TAN Based view.
- Fill the detail of BSR code of Collecting Bank branch, Challan Tender Date, Challan serial Number, Amount, and clear Captcha code.
- Click on View
TAN Based View:
- First, Visit Here(otherwise open this URL in your bowser’s window “https://tin.tin.nsdl.com/oltas/index.html” except Quotes)
- Now, fill up the TAN number, Challan tender number, clear Captcha code
- Click on View Challan Details.