OLTAS, or Online Tax Accounting System, is the initiative of the Income Tax Department. It is a system for collecting, accounting, and reporting of receipts and payments of direct taxes both online and through a network of bank branches.It is for all types of taxpayers.
In brief OLTAS is for collection, accounting and reporting of the receipts and payments of Direct Taxes from all kinds of taxpayers, online, through a network of bank branches. To understand what is OLTAS, its features and benefits, you can click here – ‘Online Tax Accounting System (OLTAS)’ .
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 collecting bank will capture the entire data of the challan and transmit it electronically to the Income-tax Department. Banks also reconcile daily tax collection with the information and data received by Tax Information Network (TIN) from the banks.
This enables easy verification/ status checking of all details and information about the tax payments online. Once taxes are paid, tear off portion of counterfoil is given to taxpayers post rubber stamping by collecting bank and in case of online payment, challan is generated immediately. Challan/counterfoil contains Challan Identification Number (CIN) a unique serial number containing 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
CIN is a proof of tax payment by a taxpayer which is required to be quoted in income tax returns or communication with the income tax department whenever required. Further, CIN has done away with the requirement of attaching a hard copy of tax paid receipts along with income tax return. Hence, tax paid challan plays an important role and it is imperative to ensure all details filled in the challan are correct. If a taxpayer wants to check the status of tax payments anytime, he/she can do so online. While the way OLTAS works is the same for both income tax directly paid by income earner and also payment of TDS by the deductor. We have discussed the procedure for checking the status of TDS challan online below.
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 (TCS) and Tax Deduction at Source (TDS) |
| 3 | Challan No. ITNS 282 | For payment of direct taxes like wealth tax, gift tax, estate duty, hotel receipts tax, securities transaction tax (STT) and expenditure 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 |
OLTAS was launched in June 2004 with the following objectives
- Collection of online direct taxes
- Accounting of online direct taxes
- Reporting of payments as well as receipts of online direct taxes
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 to the taxpayer after putting rubber stamp containing a unique Challan Identification Number (i.e. CIN). CIN is a unique number comprising of following:
- 7 digit BSR code.
- Date of presentation of challan in DDMMYY format.
- 5 digit serial number of the challan.
Time of issuance of tear off a portion to the taxpayer:
- In case of cash payment – tear-off portion would be allotted immediately.
- In case of payment through draft or cheque – tear-off portion would be allotted to the taxpayer after realization of draft or cheque.
- In case of online payment – tear-off portion would be generated immediately after payment processing.
The CIN generation represents the proof of payment of tax and the same has to be entered at the time of filing of the income tax return.
Status Inquiry for taxpayers
Status of TDS Challan can be checked either by using CIN or Tax Deduction and Collection Account Number (TAN) of deductor. While, status enquiry for all kinds of tax payments can be made using CIN based view, status enquiry for TDS challan can be made using both CIN and TAN based view. Challan Status may be viewed after a week from depositing the challan with the bank.
While making the query on website, if the following message is displayed ‘no records found for the above query’ or if there is any other discrepancy in the data, taxpayer may enquire with the bank where tax has been deposited. In case of no satisfactory reply, taxpayers may email/write to National Securities Depository Ltd.
TAN based view
Visit OLTAS website – https://tin.tin.nsdl.com/oltas/index.html. Click on ‘TAN based view’ under ‘For Tax Payers’. Enter TAN and Challan Tender Date range for a required period (range should be within 24 months). On selecting this option text file containing the following challan details for the selected TAN and period can be downloaded:
- CIN
- Major Head Code* with description
- Minor Head Code**
- Nature of Payment
If the taxpayer enters the amount against CIN, the system will confirm whether it matches with the details of amount uploaded by the bank. This file should be used to verify the challan details mentioned in the Quarterly e-TDS/TCS statement For verifying the challan details import the challan file in the File Validation Utility (FVU) along with the text file (Quarterly e-TDS/TCS statement). On successful validation of Quarterly e-TDS/TCS statement, FVU will provide the matching statistic for challan details mentioned in the e-TDS/TCS statement.
Collecting Bank Branch
On providing the branch scroll date and the major head code – description, the tax collecting branch can access the total amount and total number of challans for each major head code*. Further, the collecting branch can view following details:
- Challan Serial Number
- Challan Tender Date
- PAN/TAN
- Name of Taxpayer
- Amount
- Date of receipt by TIN
FAQs
What does OLTAS challan mean?
OLTAS is the initiative of the Income Tax Department. It is a system for accounting, collecting and reporting receipts and payments of direct taxes online and through a network of bank branches.
Can I submit the OLTAS challan online?
You need to fill out a challan to make payment of taxes. It is available at the Income tax department, banks and online. The payment can be made online through net banking or debit cards from authorised banks. It can also be done offline by submitting hard copies of the OLTAS challan with the amount payable at physical bank counters.
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