Master Circular
- Collection of Direct Taxes - OLTAS
Circular No. DGBA.GAD.No.
H-2/42.01.034/2009-10, dated 1-7-2009
Please
refer to our master circular RBI/2008-09/81 dated July 01, 2008 on the above
subject which was issued with a view to facilitate quick reference to all the
extant instructions issued on the subject at one place. We have now updated the
master circular incorporating important instructions issued by us till end
June, 2009. A copy of the same is enclosed for your information. This
circular may also be downloaded from our website www.mastercirculars.rbi.org.in
Enclosure
Master Circular on Collection of Direct
Taxes
Introduction
The
Central Board of Direct Taxes (CBDT) is responsible for administering various
direct taxes through the Commissioners of Income-tax located in different parts
of the country. The Commissioners of Income-tax are entrusted with the task of
collection as well as refund of Income-tax and Corporation Tax, etc. under the
Income-tax Act, 1961.
2.
The Principal Chief
Controller of Accounts (Pr.CCA) is the apex authority of the accounting
organisation of the Central Board of Direct Taxes. Under the Departmentalised
set up, the Pr.CCA, CBDT has been assigned the functions relating to accounting
of all receipts and refunds pertaining to the Direct Taxes. The Pr.CCA sits at
New Delhi and operates through Zonal Accounts Offices (ZAOs) across the
country. Presently there are 24 ZAOs located at various places.
3.
Major Heads of Account
The
various types of direct taxes collected by the Income Tax Department are
classified under the following Major Heads:
|
i)
Corporation Tax (C.T.)
|
0020
Corporation Tax
|
|
ii)
Income Tax (I.T.)
|
0021
Taxes on Income other than Corporation Tax
|
|
iii)
Wealth Tax (W.T.)
|
0032
Taxes on Wealth
|
|
iv)
Gift Tax (G.T.)
|
0033
Gift Tax
|
|
v)
Fringe Benefit Tax
|
0026
|
|
vi)
Banking Cash Transaction Tax
|
0036
|
4. Prior to 1st April 1976, Income and other Direct taxes were
accepted by the Offices of Reserve Bank of India (RBI), the branches of State
Bank of India (SBI), its associates conducting Government business, treasuries
and sub-treasuries. With a view to increasing the number of points at which
these taxes could be deposited conveniently by the members of the public, a
scheme for collection of income tax and other direct taxes through the branches
of public sector banks was introduced with effect from 1st April 1976.
5. ‘Accounting System for Direct Taxes’ - Revised procedure
(RBI Circular
DGBA.GAD.No.H-684/42.01.001/2003-04 dated January 9, 2004)
After studying the issues relating to Accounting and
reporting, delays in remittance and in dispatch of documents etc., the ‘Working
Group on Government Accounts’ suggested the revised procedure which came into
effect from 1st October 1988. Reserve Bank has issued comprehensive
instructions on acceptance of CBDT dues and its accounting and reporting vide
its publication ‘Accounting System for Direct Taxes’ which came to be known as
the Pink Booklet.
6. With a view to improving customer service to direct
taxpayers, special attention was drawn to the following provisions of
‘Accounting System for Direct Taxes’ :
(RBI/2004/135
(DGBA.GAD.No.1142 /42.01.001/2003-04) dated April 2, 2004)
(i) Issue of Token : While instructions issued by Reserve Bank
regarding the issue of paper token as an acknowledgement of payments are very
clear, it is observed that a large number of authorised branches do not issue
such tokens. In many places, there are informal arrangements wherein the
taxpayer is asked to collect the challan after a specific date from the bank
branches. In some cases, the receipted challans are not kept securely and are
placed in an open box. The customers are allowed to freely pick up their
challans without any identification. In the case of challans deposited with
cheque or draft, the receipted challans will be issued on realisation of the
amount of cheque or draft and hence the paper token should indicate the date on
which the receipted copies of the challans would be kept ready so that the
assessee makes an arrangement to collect the receipted challan on the date
given in the token.
(ii) Receipted Challan: The receipted challan
should be made available to the assessee within 4-5 days, based on the local
Clearing arrangements. The branches should ensure that this stipulated waiting
period must not be exceeded and any deviation in this regard will be viewed
seriously by Reserve Bank. The receipted challans should be handled with care
and in a secured manner till they are handed over to the assessee across the
counter on presentation of the relevant paper token. Under no circumstance, the
receipted challan should be kept in open box accessible to customers.
(iii) Double Date Stamp on Receipted Challan: It is reiterated that
the challan should bear two dates i.e. the 'Date of tender' of challans and
instruments and the 'Date of realisation' of proceeds of the instruments as
specified in Annexure-V of the Pink Booklet.
(iv) Acceptance of Clearing Cheques: It is observed that some
of the banks are reluctant to accept cheques drawn on other banks while
receiving taxes resulting in practice of Chartered Accountants/Tax Consultants
tendering their own cheques on behalf of their clients. As accepting cheques
drawn on other banks will greatly facilitate the customers, banks are advised
not to turn back customers who tender challans with cheques drawn on other
banks.
(v) Do's and Don’ts : A list of Do's and
Don'ts as given in the Annexure-IV of the Pink Booklet were not being supplied
to the bank staff dealing with the Direct Tax collection work as required. The
same may be issued to the branches.
7. Online Tax Accounting System (OLTAS)
(RBI/2004/131
(DGBA.GAD.No.1008/42.01.034/2003-04) dated April 1, 2004, RBI/2004/145
(DGBA.GAD.No. H-1068 /42.01.034/2003-04) dated April 16, 2004 &
RBI/2004/184 (DGBA.GAD.No.H-1114/42.01.034/2003-04) dated April 29, 2004)
7.1 A High Powered Committee (HPC) was constituted by Reserve
Bank for setting up OLTAS in January 2003. The HPC set up a Sub-Committee to
suggest the Accounting Procedure for Online Tax Accounting System. The
Accounting procedure duly approved by CGA and CAG was introduced for OLTAS
w.e.f June 01, 2004.The new accounting procedure (Annexure) was forwarded to
all agency banks on April 16, 2004. The salient features of the new accounting
procedure are the introduction of a single copy challan with tear-off
taxpayer’s counterfoil, branding of acknowledgement stamp with unique serial
number known as Challan Identification Number (CIN) on the single copy challan
and on taxpayer’s counterfoil. Tax payers are now able to view the tax paid by
them by logging on to http://tin-nsdl.com. Further, the new file
structure required by Income Tax Department was also forwarded to Agency banks
for developing suitable software for the OLTAS.
7.2 Under the new procedure banks were advised to issue
acknowledgement in respect of challans tendered with clearing cheques/drafts
(i.e. other than cash and transfer cheques/drafts) only after the realization
of such cheques/ drafts. Banks were further advised to issue paper token in
respect of such challans indicating the date of tender and the date on which
the counterfoil will be kept for delivery. The receiving banker was advised to
return the tear-off portion of taxpayers’ counterfoil on realization of such
cheques/ drafts after branding with the rubber stamp acknowledging the payment
with Challan Identification Number (CIN) comprising of the following:
i.
BSR Code number of the bank branch (7 digits)
ii.
Date of presentation of the challan (DD/MM/YY)
iii.
Serial number of the challan in that branch on that day (5 digits).
7.3 The tear off portion of the challans accompanied with cash or
cheques drawn on the same receiving branch may be returned to the taxpayer on
the same day with necessary acknowledgement by branding with the rubber stamp
prescribed above.
7.4 All the non-computerised/ non- networked branches were
advised to ensure that data pertaining to those branches be transmitted from
its nearest computerized/networked branch to the Nodal branch and from Nodal
branch to Link Cell electronically so that complete data pertaining to all the
authorized branches of a bank throughout India are seamlessly transmitted to
the Tax Information Network (TIN) hosted by NSDL.
7.5 It was further advised that the new accounting procedure
under OLTAS will replace the existing procedure in so far as the sending of
scrolls and challans to the Income Tax Department is concerned. It was also
advised that except for the changes proposed in the OLTAS Accounting Procedure
forwarded to banks, the instructions contained in the Pink booklet “Accounting
System for Direct Taxes” (Updated upto June 30, 1999) will continue to be in
force.
7.6 Further, need for transmitting data online to TIN in addition
to the normal practice of sending paper scrolls and challans to the ZAO and
Income Tax department was also emphasised.
7.7 It was suggested to banks that their Link Cells at Nagpur may
be connected to TIN (NSDL) at Mumbai with a dedicated leased line to ensure
secure two way communication.
8. Transmission of data to NSDL - Validation Checks
(RBI/2004/75
(DGBA.GAD.No. H-69 /42.01.034/2004-05) dated July 28, 2004,
DGBA.GAD.No.H-8649/42.01.034/2005-06
dated December 23, 2005)
8.1 Various types of errors noticed by National Securities
Depository Ltd. (NSDL)/Income Tax Department in the data uploaded by banks have
been advised to the banks. In particular, data entry errors noticed in respect
of PAN/TAN Number, incorrect nodal scroll branch data, assessment year, absence
or incorrect tax-payer's name, CIN Numbers, major head codes and amounts were
brought to the notice of banks.
8.2 To counter the lacunae observed, it has been decided that
each bank will incorporate the following validation checks with immediate
effect in the OLTAS software for all Record Types:
(i)
Value for the field NOD_BR_COL_SC_DT and NOD_BR_PYMT_SC_DT in RT01 and RT06
respectively should be between 01-06-04 and date of transmission (i.e.
filename).
(ii)
PAN/TAN cannot be of lesser than 10 alphanumeric characters. If its length is
10 then in case of PAN first five and tenth character of PAN should be alpha
only, and sixth to ninth i.e. next four should be numeric. In case of TAN first
three characters should be CTU code and fourth, tenth must be alpha and next
five (fifth to ninth) should be numeric. Quoting of PAN/TAN is made compulsory
w.e.f January 1, 2005.
(iii)
Name field is always mandatory and it should have a combination of alphanumeric
and dots only and it should be of more than one character (the name string
should not be of dots and numeric or both. Alphabets must be there in main
string). It is mandatory to transmit the full name of tax payer
irrespective of the fact that PAN/TAN has been mentioned on the challan.
(iv) ZAO code number of
a collecting branch is permanent and details of ZAO code numbers are available
in the pink booklet published by the Reserve Bank. Nodal Branches must ensure
that this ZAO code number is correctly mentioned in Record Type 01 and is not
altered under any circumstances. It is advised that all the banks should save
the code in the ZAO field in their OLTAS software as instances have been
brought to the notice of RBI/Government where the same branch is mentioning
different ZAO code on different dates of transmission.
8.3 In addition to the above validation checks, the following
supervisory steps have to be taken by banks:
(i) Branch Managers of
the collecting branches must ensure correctness of the name and amount captured
from the challans. For this ‘maker-checker’ system of data entry must be
adopted in all the bank branches.
(ii) All collecting
branches must compulsorily transmit Record Type 01 and Record Type 02 (Summary
Record), if there is collection on that day. In branches where there has been
no collection during the day, Record Type 02 (NIL statement) is to be
transmitted to the Nodal Branch. This would enable the TIN to accurately
monitor the implementation of OLTAS.
(iii)
At the Nodal Branch level supervision has to be made to ensure that all the
collecting branches are transmitting the Record Type 01 and Record Type 02.
They should also ensure that those collecting branches that have no collection
transmit only Record Type 02 (NIL Statement) with MAJ_HD_CD=0 and TOT_AMT=0 to
their respective Nodal Branch.
(iv)
Branch Manager of Nodal Branch must ensure that the Major Head wise collection
shown in the Nodal Branch Scroll of a particular date submitted to the ZAO,
tallies with the corresponding totals in the OLTAS data transmitted to the Link
Cell for submission to TIN. This exercise should be done in respect of all
payments from June 1, 2004.
(v) All the banks at
Link Cell level should maintain an error record of action taken on error
records transmitted to TIN. This would ensure that all records which had
initially been rejected by TIN due to some deficiencies are compulsorily
retransmitted to TIN after removal of lacunae within 48 hours.
(vi) It is observed that
the banks are entering wrong major head codes i.e. interchanging payments
received under Major Head 020 for Corporation Tax or Major Head 021 for Income
tax other than Corporation Tax. This leads to avoidable misclassification of
payments and affects the reconciliation of accounts between the Income Tax
Department and ZAO. In case of a valid PAN, the above validation can be
implemented in the OLTAS software i.e. if 4th character (from the
left) is ‘C’ then Major Head code must be 020.
8.4 Income Tax Department has also informed us that while
transmitting assessment year data, banks were required to transmit the first
part for normal as well as block assessment years; for example for the normal
assessment year 2005-2006 the bank is required to transmit 2005 and for a block
assessment year like 1997-2005, the year 1997 should be transmitted.
9. Sending daily scrolls by e-mail to ZAOs
(RBI/2006/295(DGBA.GAD.No.H-11140/42.01.034/2005-06
dated February 2, 2006)
Banks were advised of the revised format of electronic Nodal
Branch Daily Main Scroll for Direct Tax Collection. The revised format (Annex
III) is to be used to send the Daily Main Scroll electronically to all ZAOs
pending receipt of physical challans/scrolls from all receiving branches.
10. Abolition of Sub-Agency Arrangements for Collection of
CBDT Dues
(RBI/2004/326(DGBA.GAD.No.3278-3311/42.01.034/2004-05)
dated Dec. 31, 2004)
It was observed that one of the major reasons for
non-uploading of data under OLTAS is the existence of Sub-Agency arrangements
with another prominent bank in the locality where the Sub-Agency bank concerned
does not have sufficient number of branches for having its own Nodal Branch as
per the norm then prescribed by CBDT. Due to non-compatibility or for other
reasons, the data in respect of challans received by collecting branches under
sub agency arrangements were not uploaded to TIN by the Principal Agency banks
in many cases. With a view to avoiding delay and problems arising out of the
sub-agency arrangements, it has been decided in consultation with Directorate
of Income Tax (Systems), New Delhi to discontinue the Sub-Agency arrangement
altogether. Banks were advised to designate their own Nodal branches wherever
their branches were functioning under sub-agency arrangements.
11. Funds Settlement - Reporting to RBI, CAS Nagpur
(RBI/2005/466
(DGBA.GAD.No.H. 5801 /42.01.034/ 2004-05) dated May 13, 2005 & RBI/2005/406
(DGBA.GAD.H 5236/42.01.034/2004-2005) dated March 29, 2005)
11.1 Keeping in view the decision to switch over to settlement of
funds on the basis of on-line data uploaded to TIN with effect from April 1,
2005, the existing system of reporting CBDT transactions to RBI, CAS, Nagpur
has been reviewed. Accordingly, it was decided that agency banks will submit
the CBDT figures to RBI, CAS, Nagpur separately through digitally signed e-mail
(to be signed by a class II certificate holder). The CBDT figures reported to
TIN as at 13.15 hours on week days and 12.30 p.m. on Saturdays would
simultaneously be reported to CAS, Nagpur for funds settlement through
digitally signed e-mail. The data mailed after the cut-off time would not be
accepted by CAS, Nagpur under any circumstances.
11.2 Banks were advised that any rejections by the system at RBI,
CAS will not be accounted for on the same day as it is presently being done
after obtaining corrected revised advices from the Link Cells. The figures accepted
by the system at CAS would be accounted for. The rejection report would be
passed on to the Link Cell along with the daily input statement on the same
day. Banks were advised to issue necessary instructions to their branches and
the Link Cell in this regard.
11.3 It was clarified that the financial data file uploaded
to CAS, Nagpur on any given date for funds settlement and the challan data
relating to that particular settlement date uploaded to TIN should exactly
match. Files
rejected subsequently by NSDL, if any, due to validation errors etc. should be
processed separately and re-uploaded. Banks were advised to ensure that challan
data in respect of each and every challan deposited by the assessee is uploaded
and duly accepted by TIN. Such re-uploading of files to TIN would not
affect the funds settlement data. The requirement of complete reporting to TIN
would be achieved if the data going from Link Cells to CAS, Nagpur and the
relative challan data going to TIN are uploaded simultaneously.
11.4 Link Cells were advised to ensure that there is no mismatch
in figures uploaded to CAS and TIN for a given uploading date.
11.5 Nodal Branches were advised to follow the instructions
contained in paragraph 6 of the ‘Accounting Procedure Relating to On-line Tax
Accounting System (OLTAS)’ meticulously and were advised to dispatch the
Scrolls and Challans etc. on a day -to- day basis to Zonal Accounts Offices
concerned.
12. Certain clarifications
issued by the RBI for guidance to banks as regards OLTAS are reproduced below:
(RBI/213/2004(DGBA.GAD.NO.H-1169/42.01.034/2003-04)
dated May 22, 2004 & RBI/2004/181 (DGBA.GAD.No. H-235/42.01.034/2004-05)
dated September 15, 2004)
12.1 Challan Identification Number (CIN)
It was clarified that as per paragraph 1.3.3 of OLTAS
Accounting Procedure (Annexure) running serial number would have to be given
for all the challans tendered with cash, transfer cheques as well as
clearing cheques on a particular day across all types of direct taxes.
While the tear-off portion of the challan tendered with cash and transfer
cheques (i.e. the cheque drawn on the collecting branch) needs to be returned
to the tenderer with the prescribed rubber stamp indicating the date of tender,
BSR code and CIN etc., the challans tendered with clearing cheques (i.e.
drawn on other branches/banks) would have to be returned only on realisation of
the instruments. The authorized official of the receiving bank branch was also
required to sign the tear-off portion of the challan as well as original
challan.
12.2 Banks were requested to
visit Income Tax website (www.incometaxindia.gov.in) for Frequently Asked
Questions (FAQs) on OLTAS.
13. Further, banks were advised to ensure full participation of
authorized branches and ensure that every challan record is transmitted to TIN
by every branch where tax collection has been made. It was reiterated that a
NIL statement (Record type 02) may be transmitted to the nodal branch when
there had been no tax collection during the day to enable TIN to monitor OLTAS
properly. It was also emphasized that the data transmitted to TIN should be
correct and complete and conforms to the stipulated procedures.
14. Banks were advised of the following critical short comings
which were brought to the notice of RBI by Directorate of Income Tax:
(RBI/2004/164
(DGBA.GAD.No.H-170/42.01.034/2003-04) dated September 4, 2004)
14.1 Non capture of
PAN/TAN by banks - It had been reported from many centres that even where the
taxpayer has correctly quoted his PAN in full, certain bank branches were
either not entering it or were entering it in an incomplete manner. In this
connection, banks were advised that under the On-line Tax Accounting System
(OLTAS) procedure/rules, it had been laid down that wherever the 10 digit
PAN/TAN in the proper alpha numeric structure is quoted by the taxpayer the
banks would only have to capture the PAN and the name of the taxpayer and not
the address.
14.2 Non capture of the
full name of the taxpayer - Perusal of the data uploaded to TIN indicated that many
bank branches are still putting one or two characters in the name column of the
taxpayer. In some cases even symbols and dots were used. Banks may please
ensure capture of taxpayer’s full name in OLTAS data.
14.3 Incorrect address
field -
The data analysed also reveals that the address field was not being captured
properly by many bank branches. In many cases, just a few random alphabets or
numbers were being entered which again indicated that the bank branches were
not taking adequate care for full data capture. Banks were advised to take
necessary corrective action.
14.4 Wrong reporting of
Challan Identification Number (CIN) – It was observed that some bank branches were allotting a
particular Challan Identification Number (CIN) on the taxpayer's counterfoil
but entering a different CIN on the OLTAS data sent. As per OLTAS
procedure/rules, CIN was to be allotted on date of presentation only. The CIN
Number stamped on the taxpayer's counterfoil as well as on the main body of the
challan should be transmitted to TIN.
14.5 Non uniform scroll
data -
As per the On-line Tax Accounting procedure rules, the scroll of a Nodal Branch
for a particular day is to be identical for both the ZAO as well as for the
data transmitted on OLTAS to TIN. It was, clarified that all collection data
being sent to ZAO and TIN for a particular day must match both in
respect of number of challans and Major Heads. Further banks were advised to
ensure that each and every challan record is sent to TIN by every branch
where collection has been made.
15. De-authorisation of bank branches for collection of
Direct Taxes
(RBI/2005/412
(DGBA.GAD.No.H 5318 /42.01.034/ 2004-05) dated April 4, 2005)
15.1 With a view to streamlining the procedure for delisting of
authorised bank branches under OLTAS, it has been decided in consultation with
the office of Principal Chief Controller of Accounts (Pr CCA), CBDT, New Delhi
that any proposal for deauthorisation of branches should be submitted by the
Head Offices of the Agency banks to RBI, Central Office keeping in view the
following parameters/ guidelines:
i)
The existing branch has not received any Direct Tax in the previous year
(April-March)
ii)
The proposal for delisting of authorised branch has the approval of the Top
Management of the concerned bank.
15.2 After the proposal is approved by RBI/Office of Pr.CCA, CBDT
the concerned bank should give wide publicity to the effect that the specific
branch will discontinue acceptance of taxes with effect from a specific
prospective date and advise us accordingly.
16. File Segregation Utility developed by Tax Information
Network
(RBI/2005/81(DGBA.GAD.No.382/42.01.034
/2005-2006) dated July 26, 2005)
Requests have been received from some banks that Tax Information
Network (TIN) should not reject the entire file of OLTAS data received from a
bank's Link Cell because of a few erroneous records. The banks have desired
that TIN should accept the records which are with correct validations while
rejecting the erroneous records. On the basis of the discussions CBDT had with
NSDL (TIN) and banks, TIN had developed a File Segregation Utility which was
advised to banks. (Annex II)
17. Accounting Procedure relating to crediting of CBDT
collections to Govt. Account – Public Sector Agency Banks
(RBI/2005/411
(DGBA.GAD.No. H- 5287/42.01.034/2004-05) dated April 1, 2005, RBI/2006/150
(DGBA.GAD.No.H-6226/42.01.011/2006-07) dated October 10, 2006 and RBI/2007/235
(DGBA.GAD.No.H-11763 / 42.01.011 /2006-07) dated January 24, 2007, RBI/2007/286
(DGBA.GAD.No.13742 / 42.01.011 /2006-07) dated March 13, 2007)
17.1 It has been decided in consultation with Government of India
to amend the instructions relating to the maximum number of days allowed for
crediting tax collections to T+3 working days (where T is the day when
money is available to the bank branch) instead of T+3 days (including Sunday
and Holidays) with effect from April 1, 2005. For calculating working
days holiday list of CAS, Nagpur will be reckoned.
17.2 It has been decided that the put through date, i.e. the date
of settlement with the CAS, RBI shall be kept outside this existing time limit
of T+3 working days.
17.3 Delayed period interest shall be imposed on banks for the
delayed period and not from the date of transaction. In other words, the ‘delay
period’ calculation will start from the day following the put through date.
17.4 The period of delay in a transaction of Rs.1 lakh and above
shall attract delayed period Interest at Bank Rate + 2%. The Bank rate will be
the rate as being notified by the RBI from time to time.
17.5 For the transaction below Rs.1 lakh each, the delayed period
interest shall be levied at the Bank Rate for delays up to 5 calendar days and
above 5 calendar days at the Bank Rate + 2 % for the full period of delay. The
Bank Rate will be the rate notified by the RBI as applicable at the time of
transaction.
17.6 It has also been decided by the Controller General of
Accounts that every Principal Chief Controller of Accounts (Pr.CCAs), Chief
Controller of Accounts (CCAs) and Controller of Accounts (CAs) in
Ministries/Departments shall undertake Quarterly Review of all the remittances
made by the banks. If the delay is found to be 5% and more with the bank as a
whole or with any of its branches in two successive quarters, authorisation for
the concerned bank or the branch will be forwarded to the CGA for review with
the recommendations of Pr.CCA/CCA/CA. The banks are expected to build up their
own internal control mechanism so that the preventive and corrective actions
are taken by the bank for its branches well in time.
18. Accounting Procedure relating to crediting of CBDT
collections to Govt. Account – Private Sector Agency Banks.
18.1 In the case of private sector agency banks the time limit for
settling the transactions with CAS, Nagpur will continue to be T+3 days
(including Sundays and Holidays). The period of delay will be counted from
the date of receipt of the collection at the receiving branch (actual
realisation of the money in the bank) till it is reported to Reserve Bank of
India, CAS, Nagpur for credit to Government account. Delayed period interest
will be recoverable from the banks regardless of the amount involved. Delayed
period interest shall be levied at the prevailing Bank Rate+2%. (Bank Rate
shall be notified by RBI from time to time).
18.2 Further, the instructions given at Para 17.6 above will also
be applicable to private sector agency banks.
19. Drawing of Cheques by Assessees- Payees Name
(DGBA.GAD.No.H-8294/42.01.037/2005-06
dated December 14, 2005)
With a view to obtaining uniformity in the Payee’s name while
drawing cheque/DD by assessees for depositing challans for Direct Tax Payment
under OLTAS, it has been decided by the Income Tax Department to print the
following instructions on the reverse of the Income Tax Challan:
“Tax payer may please draw/issue cheque/DDs towards
payment of Income Tax as under:
“Pay….. (Name of the Bank where the challan is being
deposited)- A/c Income Tax”.
Banks were advised to bring the change to the notice of all
their authorised branches.
20.
New Major Heads/Challans
(RBI/2005/39 (DGBA.GAD.No.H-42 /42.01.034/2005-06) dated July
4, 2005)
Banks were advised of the revised challan formats introduced
by Government of India which were necessitated by the introductions of two new
taxes i.e. Fringe Benefit Tax and Banking Cash Transactions Tax.
Consequent changes/ rationalization made to Major Heads and Sub-Minor Head of
Accounts by Income Tax Department are given below:
CHALLAN NO.ITNS – 280
The Challan is for the
payment under the two Major Heads i.e. (a) 0020 Income-tax on Companies
(Corporation Tax) and (b) 0021 Income-tax (other than Companies). It should now
be possible for taxpayers to pay taxes for assessment years other than
consecutive assessment years. For example, in the case of assessments for block
period (more than one consecutive assessment year), the assessment year field
in the bank's software may be modified to accept payments for a period other
than consecutive assessment year for example payments for A.Y. 1991-97,
1992-99, 1993-99 etc.
CHALLAN No.281
The challan is meant for
payment of TDS (tax deducted at source)/TCS (tax collected at source). It has
two Major Heads i.e. (a) 0020 for company deductees and (b) 0021 for
non-company deductees. The challan has two Minor Head Codes which are to be
ticked by the tax payer (a) TDS/TCS payable by tax payer (Minor Head -200) (b)
TDS/TCS on regular assessment (raised by Income-tax Department (Minor-Head -
400).
The new three digit codes Sub-Minor Heads now introduced in
the challan are as under:
|
Section
|
Nature of Payment
|
Code
|
|
206C
|
Collection
at source from Alcoholic Liquor for Human Consumption
|
6 C A
|
|
206C
|
Collection
at source from Timber obtained under Forest lease
|
6 C B
|
|
206C
|
Collection
at source from Timber obtained by any Mode other than a Forest Lease
|
6 C C
|
|
206C
|
Collection
at source from any other Forest Produce (not being Tendu Leaves)
|
6 C D
|
|
206C
|
Collection
at source from Scrap
|
6 C E
|
|
206C
|
Collection
at source from contractors or licensee or lease relating to Parking lots
|
6 C F
|
|
206C
|
Collection
at source from contractors or licensee or lease relating to Toll Plaza
|
6 C G
|
|
206C
|
Collection
at source from contractors or licensee or lease relating to mine or quarry
|
6 C H
|
|
206C
|
Collection
at source from Tendu leaves
|
6 C I
|
CHALLAN NO. 282
This challan is for the
payment of a number of taxes. The changes introduced in this challan are as
under:
a)
Securities Transaction Tax has been renumbered as Major Head 0034 in place of
the earlier Major Head 0025.
b)
Wealth-Tax - Major Head 0032 has been included in this Challan. Earlier this
Major Head was in Challan No.280.
CHALLAN NO.283
This is a new challan
introduced. It is for the payment of (a) Banking Cash Transaction Tax -
Major Head 0036 and (b) Fringe Benefit Tax - Major Head 0026. The
valid Minor Head for both these categories of taxes are (i) Self Assessment
Tax, Minor Head - 300 and (ii) Tax on Regular Assessment Tax - Minor Head 400
and (iii) Advance Tax, Minor Head-100.
Banks may please arrange necessary modification in OLTAS
software and bring the above changes to the notice of all the branches
collecting direct taxes to enable the branches to accept payment of these taxes
with immediate effect.
21. Verification of PAN/TAN
(RBI/2006/55(DGBA.GAD.No.H-161/42.01.034/2005-06
dated July 7, 2006))
It has since been decided that the Income Tax Department
through their Regional Computer Centre would provide a CD, containing the
PAN/TAN master, and the name of tax payers of that region to the nodal branches
of all agency banks which will be updated on a quarterly basis. Banks were
advised to replicate the copies of the CD for internal distribution to their
branches along with a simple data retrieval software which may be used for
cross verifying the PAN/TAN quoted by the tax payer in the challan tendered.
Banks were also advised to explore the possibility of developing a software
whereby the PAN/TAN and the name provided in the CD gets captured by their data
entry system automatically thereby eliminating separate data entry of PAN/TAN.
If the tax payer’s PAN/TAN is not available in the CD, the customer may be
requested to produce a copy of the relevant PAN/TAN card or any other document
to indicate the correctness of the PAN/TAN. Banks are not required to retain
these documents used for the purpose of verification in cases where the PAN/TAN
of the tax payer is not available in the CD supplied by Regional Computer
Centre. Most importantly, banks were advised not to accept challans without a
visual check by the receiving official concerned to ensure that the challan
contains PAN/TAN in the valid 10 digit character.
22. Compulsory Quoting of Permanent Account Number (PAN)/Tax
Deduction Account Number (TAN) on Challans from 1/1/2005
(RBI 2004/300
(DGBA.GAD.NO.H-2532-65/42.01.034/2004-05) dated December 14, 2004 &
RBI/2005/265(DGBA.GAD.NO.H-8824/42.01.034/2005-06
dated December 28, 2005)
With a view to ensuring correct and prompt credit to tax
payers, Central Board of Direct Taxes (CBDT), Government of India have decided
to implement the provisions for mandatory quoting of PAN/TAN on Challans from January
1, 2005. Accordingly, no payment of taxes will be accepted by bank branches
unless the PAN of the tax payers is quoted on Challans ITNS 280 & 282 or
TAN of the deductor on Challan ITNS 281, as the case may be. The branches may
display a notice prominently stating that ‘Quoting of PAN/TAN on Challans is
compulsory from 1/1/2005’ in the branches and not to accept challans
without PAN/TAN from that date. The procedure for obtaining PAN/TAN is
available in the website of Income Tax Department
(http://www.incometaxindia.gov.in or http://www.tin-nsdl.com). The branches may
guide the assessees to obtain PAN/TAN before depositing the tax. The facility
of downloading the challan form No. 280 & 281 with pre-printed PAN/TAN
number may also be given wide publicity through your designated branches.
23. Banking Cash Transaction Tax (BCTT)
(RBI/2005/43(DGBA.GAD.No.H-76/42.01.001/2005-06)
dated July 5, 2005)
23.1 Banks were advised the procedure to be followed as regards
levy of Banking Cash Transaction Tax on the cash withdrawal by the Government
departments. Extract of the same is reproduced below:
“Government of India has
introduced a new levy of 0.1%, called as Banking Cash Transaction Tax (BCTT)
through Finance Act, 2005 which has come into effect from June 1, 2005. The
BCTT is levied on the value of taxable banking transactions which have been
defined as under:
a) Withdrawal of cash (by whatever mode) exceeding a
specified limit on any single day from an account other than a savings bank
account with any scheduled bank.
b)
Receipt of cash exceeding a specified limit from any scheduled bank on any
single day on encashment of one or more term deposits, whether on maturity or
otherwise.
23.2 The BCTT is also payable, among others, by an office or
establishment of the Central Government or a State Government. Accordingly,
Central Government Offices or establishments will be liable to pay the BCTT on
the amount of cash withdrawn by them for their use, if the amount withdrawn by
them is in excess of Rs.1, 00, 000/- (Rupees one lakh), in a single day from a
single account.
23.3 In this connection, Government of India has observed that
deducting the BCTT from the cheques’ amounts drawn by Government Departmental
Officers by Agency Banks is not correct. Banks are, therefore advised to stop
the practice forthwith.
23.4 In order to enable Banks to recover the tax from the
Government departments, banks are advised to directly debit the Government
account through the payment scrolls. The BCTT may be shown just below the
relevant cheque amount in the payment scroll, indicating in clear words
“Banking Cash Transaction Tax”.
23.5 Insofar as the reporting and settlement of the collections
with the Reserve Bank of India, CAS, Nagpur and ZAOs of CBDT is concerned,
banks will follow the procedure already prescribed for the purpose with respect
to “Direct Taxes”.”
24. Obligation of Scheduled Banks to furnish information on
Banking Cash Transaction Tax (BCTT)
(RBI /2005/ 85 (DGBA.
GAD. No. H- 414 /42.01.001/ 2005-06) dated July 30, 2005)
24.1 As per Rule No. 5 of the Government Notifications No.
156/2005, dated May 30, 2005 scheduled banks are required to furnish a
statement of number of taxable banking transactions entered into and Banking
Cash Transaction Tax collected during the month on or before the expiry of the
month immediately following the relevant month on a computer media.
24.2 Banks may, therefore, furnish the information in the manner
and media as prescribed in the Rules at the address mentioned below:
Directorate General of Income Tax (investigation)
E-2, ARA Centre, 3rd
Floor, Jhandelwalan Extension
New Delhi 110 055
Banks may download the above Notification and forms from the
website www.taxmann.com.
25. On Line Tax
Accounting System (OLTAS)-
Improvement in Data
Quality
(DGBA.GAD.No.3774/42.01.034/2007-08
dated October 9, 2007 RBI/2007/206 & DGBA. GAD. No.6212/42.01.034/2007-08
dated December 6, 2007)
25.1 Discrepancies in challan
details uploaded to TIN
It was brought to the notice of banks that the OLTAS data
uploaded to TIN by them do not match with the relative data submitted through
TDS/TCS returns submitted by deductors. Common irregularities observed were:
(i) Date of Realisation
is digitized as Challan Tender Date in the data uploaded through OLTAS.
(ii) Uploading of
incorrect Challan Serial Number, Major Head, PAN/TAN etc.
(iii) Challan Serial No.
not Stamped on challan counterfoil.
(iv) Amount indicated
against single challan bifurcated into two amounts and reported in two
challans.
Banks were advised to avoid the above errors and be more
careful while capturing and uploading OLTAS data.
25.2. Data Quality Concerns
In order to achieve accuracy in reporting PAN & CIN to
TIN the agency banks were advised to:
i.
use bulk PAN verification facility from TIN-NSDL site;
ii.
insist on proof of PAN whenever necessary and
iii.
ensure CIN given to the customer is the one uploaded to OLTAS. Care to be taken
especially with reference to 'date of tender’.
26. Introduction of Computerised Receipts and Improve in Data
Quality
(RBI/2008/328 & DGBA GAD. No.H.12070/42.01.034/2007-08 dated
May 22, 2008)
The Agency banks were advised to issue computerized receipts
for challan payments of OLTAS transactions comprising of relevant data as per
prescribed proforma i.e. annex A-IV-I & II w.e.f June 01, 2008. The agency
banks further advised to follow additional guidelines as under:
i)
Maker Checker System of Data Entry: Maker Checker System in which the
data entry by one is checked by another to exclude the possibility of wrong
data entry, may be strictly followed.
ii)
Software Alert: To minimize the data entry error, the data entry
software in the collecting branches should provide alert message where PAN/TAN
is not entered or structurally invalid data is entered or PAN is entered in the
column meant for TAN or where there is mismatch between minor head and
assessment year etc.
iii)
Software validation: You may ensure that the software validations issued
by Income Tax Department have been incorporated in your system.
iv)
Quality assurance at Bank level: Quality assurance in respect of collection
of Government Tax is expected from all agency banks.
v)
Re-upload of rejected file: the OLTAS data file may be validated through
the file validation utility (FVU) before uploading the same to TIN to eliminate
rejection of data file at NSDL.
27. Cut off time for e-Payment transactions pertaining to
Government Revenue
(RBI/2008/275 & DGBA. GAD. No.10577/42.01.038/2007-08
dated April 3, 2008)
Banks authorized for e-payment of CBDT revenue were advised
that payment under OLTAS received up to 8.00 p.m. may be treated as received on
the same day and those received thereafter be treated as received on next
working day.
28. Mandatory Electronic Payment of Tax by Certain Categories
of Taxpayers w.e.f. April 1, 2008
(RBI/2008/280 & DGBA. GAD. No.H.10875/42.01.038/2007-08
dated April 10, 2008)
CBDT has made electronic payment of taxes mandatory for the
following categories of taxpayers:
a.
A Company
b.
A person (other than a company) to whom provisions of Section 44AB are
applicable
Banks were, therefore, advised to instruct their branches:
i)
to identify the status of the corporate taxpayers from the name. The 4th digit
of PAN of all corporate asseessee would be "C". Hence physical
challans from such asseessee should not be accepted across the counter.
ii)
To accept physical challans at the bank counters from taxpayers under Sec. 44AB
of IT Act as the responsibility of making e-payment rests primarily with the
taxpayers.
iii)
to make available acknowledgement for e-payment immediately on the screen.
iv)
to ensure that the transaction id of e-payment is reflected in the bank's
statement.
v)
to display on its e-payment gateway page, the official/s to be contacted in
case the taxpayer faces any difficulty in making the payment, completing the
e-payment transaction, generating the counterfoil etc.
vi)
to give ITD and NSDL a list of officials with contact particulars to be
contacted if required for any problems faced by ITD or tax payers.
(RBI/2008/321 & DGBA. GAD. No. H. 11895/42.01.038/2007-08
dated May 15, 2008)
The Agency Banks were supplied a CD containing area-wise PAN
and names of taxpayers coming under Section 44AB of IT Act for the financial
year 2007-08 and to take following action in case of submission of challan with
cheque by taxpayers covered under Section 44AB of IT Act, which can be verified
from the CD containing area wise PAN and names of the taxpayers coming under
Section 44AB:
i)
Request the taxpayer to route his payment through e-payment mode.
ii)
If he asserts his inability to do so, accept the cheque with a warning that it
will not be accepted for the next payment and he may be liable for proceeding
under the Act.
iii)
Help the taxpayer to open net- banking account in the branch.
iv)
A short write up and steps to be followed to make e-payment (as per annex IV)
for the knowledge of tax payers was also provided to the banks.
29.
Permissible Period of Remittance of E-payment of Government
Transactions
– Private Sector Banks
(DGBA.GAD.No.H.551/42.01.011/2008-09 dated July 18, 2008)
The remittance period in
respect of Private Sector Banks and IDBI Bank for all Government transactions
including EASIEST and OLTAS received through e-payments would be T+1 working
day (including put through date) w.e.f. August 1, 2008.
30.
Permissible Period of Remittance of E-payment of Government
Transactions
– Public Sector Banks
(RBI/2008/09/97-DGBA.GAD.No.H. 549/42.01.011/2008-09 dated July 18, 2008)
The remittance period of
all Government transactions including EASIEST and OLTAS received through
e-payments by Public Sector Banks would be T+2 working days (excluding put
through date) w.e.f. August 1, 2008 and T+1 working day (excluding put through
date) w.e.f. January 1, 2009.
31. Recovery of Interest from Public Sector Banks on delayed
remittances of Government Receipts into Government Account
(RBI/2009/463-DGBA.GAD No. H-9284 /42.01.011/2008-09 dated April 28, 2009)
(i) Applicability of
exclusion of put through date for the transactions (relating to revenue
receipts) affected during the period 1/5/2005 to 31/12/2006 for the cases in
which penal interest has already been paid:
As per the extant
instructions, the 'Put Through Date' was excluded from the prescribed
remittance norms for calculating delayed period interest for remittance of
Government revenues and these instructions were made applicable in pending
delayed period interest cases where the banks had not paid the interest. It was
decided by Controller General of Accounts to extend the benefit of exclusion of
the 'Put Through Date' from the time period calculated for remittance of
Government receipts to those banks also which had paid the penal interest
during the period from 1/05/2005 to 31/12/2006 on the instructions existing at
the time they made the payments. The excess payment of penal interest paid by
the banks will be adjusted against the subsequent claims of delayed period
penal interest against them.
(ii) Permissible period
for remittance of Govt. revenues into Govt. account for outstation transactions
under Electronic Accounting System in Excise and Service Tax (EASIEST):
It has been decided that
a maximum period of T+5 working days (excluding put through date) for
outstation transactions will be allowed. This dispensation will not be
applicable on e-payments (payment made through internet) for which separate
instructions have been issued vide our circular No. RBI/2008/09/97 dated July
18, 2008.
(iii) Levy of petty
amount of penal interest on delayed remittances of Government receipts:
It has been decided that
the petty claims of delayed period penal interest involving amount of Rs.500/-
or below, will be ignored and excluded from the purview of penal interest
w.e.f. January 1, 2008.
(iv) Waiver of penal
interest due to teething problems experienced by dealing branches during the
initial period of OLTAS:
Considering the various
problems which had arisen during the initial period of implementation of OLTAS
before the system stabilized, it has been decided to exempt the six quarters
(i.e. 1/04/2005 to 30/09/2006) from the purview of penal interest.
Further, these
instructions will not be applicable to remittance of funds under the Deposit
schemes viz. PPF/SCSS etc. of Ministry of Finance.
Annex I
ACCOUNTING PROCEDURE
RELATING TO ON-LINE TAX
ACCOUNTING SYSTEM
(OLTAS)
----------------------------------------------------------------
1. Procedure for acceptance of taxes at the receiving
branches
1.1 A taxpayer can pay direct taxes at any authorised branch of
the authorised bank either in cash, direct debit to account or by a
cheque/draft drawn on the same bank or another bank/branch at the same centre
where the payment is made. The payment of tax by outstation cheques/drafts can
also be made at any authorised bank, or through an electronic means of
remittance to the authorized bank / branch. For every payment there should be a
challan in the prescribed format. The challan format is a single copy challan
with the main challan at the top and the taxpayer’s counterfoil at the bottom
of the challan (Specimen at Annexure 'A').
1.2 At the counter of Receiving Bank Branch
The receiving clerk/ teller of the receiving branch will have
to check up the following points while accepting the payment: -
a. Whether main portion of the challan and the taxpayer’s
counterfoil form have been filled in properly and the amount and major head of
account to which the amount is to be accounted /credited is correctly recorded
therein;
b. Whether details of the Permanent Account Number (PAN) or
Tax Deduction Account Number (TAN), name and address of the taxpayer,
assessment year and nature and type of payment are properly filled in. The
amount should be written correctly both in words and figures.
c. Whether the Permanent Account Number (PAN) / Tax Deduction
Account number (TAN) has been quoted in the challan at the prescribed place.
U/s 139 A (5) (b) of the Income Tax Act, quoting of PAN is mandatory.
Similarly, u/s 203A of the Act, quoting of TAN is mandatory. This number, as
quoted by the taxpayer should be validated (checked to see whether it is in
conformity with the valid PAN/TAN structure) and the designated banks accepting
tax payment should ensure that the challans for payment are accepted only when
a valid PAN is quoted in the challan. However, where the taxpayer indicates
that he has already applied for allotment of PAN or TAN but has not yet been
allotted the same, the tax payment challans may be accepted by the bank
provided the tax payer indicates PAN/TAN application number in the challan. In
such cases it should invariably be ensured that the full address of the
taxpayer has been mentioned in the challan.
1.3 After scrutinizing the challan and satisfying himself that
the amount of cash, cheque or draft tendered agrees with the amount shown in
the challan, and also that the cheque is not post dated/stale the receiving
teller or counter-clerk of the branch will issue a paper token to the tenderer
to facilitate delivery of the counterfoil receipt to him. In the case of
challans deposited with cheque or draft drawn on other bank branches, the
counterfoil receipt will be issued only on realization of the amount of the
cheque or draft and hence the paper token should bear the date on which the
same will be available.
1.3.1 Challans tendered with Cash
A challan tendered with cash, if found in order after
scrutiny, will be stamped ‘CASH RECEIVED’. The bank will also stamp both the
main portion and the taxpayer’s counterfoil of the challan with a stamp
mentioning the name of the bank & branch, the BSR code the branch (7
digits), date of deposit (DDMMYY) of the amount and unique serial number of the
challan (5 digits). The stamp will be impressed on both the main portion as
well as the taxpayer’s counterfoil of the challan. Care must be taken to ensure
that the impression of the receipt stamp is clear and legible.
An authorized official of the branch will sign in full the
taxpayer’s counterfoil of the challan and initial the main copy of the challan
having received the amount. In the taxpayer’s counterfoil, the amount received
will be indicated in both words and figures. The receipted taxpayer’s
counterfoil will be returned to the tenderer and the main copy will thereafter
be passed on for scrolling in the Receipt scroll.
1.3.2 Challans tendered with Cheque/Draft
A challan tendered with cheque/ draft will be branded with a
‘double date stamp’ to indicate the date of tender of the instrument as well as
the date of realization thereof. It may be possible that some branches might be
following the practice of branding the challans with an inward date stamp as
soon as the challans are tendered over the counter. In that case the double
date stamp may not be necessary. However, it will be ensured that the inward
date stamp is invariably branded on both the main copy and the taxpayer’s
counterfoil of the challan.
The checking official will initially ensure that there is no
difference between the amount of cheque/ draft and the amount recorded in the
challan by the tenderer. The cheque/ draft will thereafter be sent for
realization. Subsequently, on realization of the cheque/draft, the date of
realization will be indicated on the double date stamp or in the space in the
challan as the case may be. The bank will also stamp both the main and the
taxpayer’s counterfoil of the single copy challan with a stamp mentioning the
name of the bank & branch, the BSR code the branch (7 digits) date of
deposit (DDMMY) of the amount and unique serial number of the challan (5
digits). After signing the challan for having received the amount, the
taxpayer’s counterfoil will be returned to the tenderer against the surrender
of the token.
1.3.3 Numbering of Challans
Running serial number will be given for all the challans
(both paid by cash and by cheque) for each day. It must be ensured that
the serial number on each challan issued on a particular day should be unique
to trace it subsequently. The bank must therefore ensure that the serial
numbers given to the challans deposited with cash do not overlap with the
serial numbers given to the challans against which cheques have been realised
on that day.
Counterfoil of the challans tendered along with cash and
cheque/draft payable at the same branch will be returned to the tenderer duly
receipted at the counter. The challans tendered with cheques/drafts drawn on a
different branch of the same bank or any other bank situated at the same
centre, the tax-payer’s counterfoil will be returned duly receipted not later
than the working day following the day fixed under the Rules of ‘Local Bankers’
Clearing House’ for return of unpaid instruments of any day’s clearing.
1.4.1 In case of challans tendered with cheque/ draft, the date of
realization of the cheque will also be stamped on the main portion of the
challan, which will be retained at the bank for onward transmission to Zonal
Accounts Office (ZAO) along with the Receipt Scroll. Although as per the Income
Tax Act the date of presentation of cheque/ Demand Draft realized will be
treated as date of payment of tax, the cheque/ Demand Draft will be scrolled
only after realization.
1.4.2 Double Date on Receipted Challan
The main portion of the challan through which a cheque/ draft
is deposited will, therefore, have two dates as under:
i) Date of tender : DDMMYY (in the rubber stamp
acknowledgement)
ii) Date of realization:
DDMMYY (at the place indicated in the challan)
In case of cash tender the ‘Date of tender’ and ‘Date of realization’
will be the same.
1.4.3 The collecting bank will not issue receipt in any other
format.
2. Preparation of Scrolls by the Collecting Branch
2.1 A running serial number will be given to all the challans
received at a bank branch counter on each day against which cash
payments have been made or cheques/ drafts have been realized on that date.
2.2 All the challan fields such as name and PAN, the serial
number, date of deposit and BSR code of the branch are required to be captured
when the challan is deposited by the tax payer at the bank counter. The data
structure of the fields of the challan for which data has to be captured and
transmitted will be as informed to the banks by the Income-tax Department.
Permanent Account Number (PAN) and the name of the taxpayer will invariably be
incorporated in the Receipt & Payment Scroll.
2.3 At the end of customer banking hours, the bank branch should
identify all those challans against which payment has been received in cash for
the day or for which payments by cheque/draft have been realised for the day.
As the details of all these challans is already in the bank’s computer system,
the branch should generate a file containing all the challan data for which
payments have been realised for that day and transmit it to its Nodal Branch
for onward transmission to the Income Tax Department’s TIN through the banks'
Link Cell. However, the non- computerized/ non- networked authorized
branches should ensure that data is transmitted from it’s nearest computerized/
networked branch to the Nodal Branch. It should be ensured that no challan for
which payment has been realised on that day is left out. A running scroll
serial number extending through a financial year (1st April to 31st
March) will be given to the records relating to each type of tax
(major head) which are transmitted on a particular day. The complete data
structure of records and the file which is to be transmitted by the bank to the
Department will be in the format prescribed by the Income-tax Department. The
collecting branch will in no case alter the online data file at its end after
it has been transmitted to the Income Tax Department.
2.4 Treatment of Clearing Returns
The collecting branch should also identify all those challans
against which instruments were returned unpaid. Such instruments along with
related challan should be kept separately in the bank for taking further
necessary action as deemed fit.
2.5 The collecting branch will also generate separate printouts
of the scrolls in Form and summary in Form based on the type of tax (major
head-wise) on a daily basis from the challan data on its computer which has
been transmitted to the Income-tax Department. The same running serial number
extending through a financial year (1st April to 31st March), which was given
to the scrolls transmitted for the relevant day, prefixed by the appropriate
abbreviation of the type of tax (major head) concerned, will be printed on the
scroll. The collecting branch will in no case generate any printed scrolls or
summary from data which is changed in any manner from the data earlier
transmitted to the Department. Thus the scrolls generated by the branch will
exactly match the scrolls generated by the RCC from the data transmitted to the
Department's TIN on-line by the bank. Thereafter, the branch will prepare a set
of computer printed summary and receipts scrolls and attach with each scroll the
physical challans arranged in the same serial order in which they are entered
in the scrolls. At the beginning of the next working day, the receiving
branch will forward the same to the Nodal Branch for onward transmission to
the ZAO.
2.6 Transmission of Error Records
In case of any error by the collecting bank branch in
reporting the amount of payment made by a taxpayer or major head of payment,
the bank will transmit the corrected information on-line to TIN through an
error record, the format for which will be as prescribed by the Income-tax
Department. Rectification of the errors in the amount and the head of account
will also be reported to ZAO through ‘Error Scroll” to be sent through Nodal
branch. Only the amount of tax payment as reported by the bank to the TIN will
be accepted by the Income-tax Department as the payment made by the taxpayer.
3. Procedure for Payment
of Income Tax Refund Orders (ITROs)/ECS
3.1 Direct tax refund work is entrusted to only one branch of an
authorized bank generally Reserve Bank of India, State Bank of India or its
Associate Banks at an ITD centre / a District. The Refund Orders will be
presented to the branch by the taxpayer for transfer to his account with the
same branch. Alternatively, it might be received through clearing. The specimen
signatures of the officers of the Income-tax department who are authorized to
draw refund orders will be sent to the paying branches concerned in advance by
the Income-tax authorities. The specimen signature will be duly certified by an
officer of the Income-tax Department whose specimen signature is already on
record with the branch. Any change in the authorised official will be advised
to the branch concerned immediately. The relieved officer will attest the
specimen signature of the relieving officer. While passing the refund orders
for payment, the passing official should exercise utmost care apart from the
precautions usually exercised by the banks in connection with payment of
Negotiable Instruments, the instructions issued by Controller General of
Accounts as well as Reserve Bank from time to time. The payee is required to
affix his signature in the space provided for 'Claimants signature' on the
reverse of the Income Tax Refund Order (ITRO).The procedure relating to Refund
Advices will continue as at present except that advices of paid ITROs and
printed payment scrolls will no longer be sent by the bank to the Income-tax
Department.
3.2 As in the case of receipts, refunds are required to be
classified by the paying branch according to the type of tax under which the
refunds are made. Separate major head wise payment records will be maintained in
respect of payment of ITROs.
3.3 Direct tax refunds can also be credited directly to the
taxpayer’s bank account through Electronic Clearance Scheme (ECS) of RBI. In
order to avail of this facility, the taxpayer gives a mandate by mentioning
type of his bank account (Savings or Current), account number and bank branch
code (9 digit) in his Return of Income. After processing of the taxpayer’s
Returns and determination of the refund by the Assessing Officer, all
taxpayer’s refunds (in which credit through ECS has been sought) in the
jurisdiction of an RCC are automatically consolidated on the computer system at
the RCC. All this refund data is downloaded, encrypted and copied onto a
magnetic media (floppy or rewriteable CD) or transmitted electronically. This
is sent by the RCC to the local ZAO as well as refund issuing branch of RBI or
SBI. After validating the data in the file, the bank debits the Income-tax
Department Account for the total amount of the refunds and thereafter issues
instructions through clearing to the different local braches of the banks where
the taxpayer’s accounts are located to credit the taxpayer accounts with the
amount intimated by the Department. This single debit to the Department’s
account appears in the payment (refund) data transmitted by the bank to the
Income Tax Department for that day. In case any of these credits to the
taxpayer’s accounts are not effected due to reasons like closing of the account
etc., the same is later accounted for by a separate minus debit entry
for ECS Return in the Income Tax Department’s account and is intimated to the
Income Tax Department through the payment (refund) data transmitted for that
particular day. The files in the electronic media (floppy or rewriteable CD
etc.) are returned along with the computer printed payment (refund) scroll to
the ZAO while the same data is transmitted online by the bank to the Income Tax
Department through the Income Tax Department’s Tax Information Network (TIN).
4. Preparation of Payment (Refund) Scrolls
4.1 The procedure for preparation of payment scrolls will be the
same as the procedure applicable to receipts scrolls.
4.2 The scrolls will be made into set similar to the set relating
to receipts except that instead of the challans, the paid Refund Orders will
accompany the scrolls. The entire data regarding the paid refund vouchers will
be transmitted electronically by the paying bank to the Link Cell for onward
transmission to the Department’s TIN while the physical scrolls with the paid
Refund Order will be forwarded to the ZAO through the Nodal Branch. If the
Nodal Branch is not locally situated, all the above documents (receipt/payment
scrolls etc.) should invariably be sent by Registered Post.
4.3 In the case of ECS Refunds, the data will be transmitted on-line
to the Link Cell and subsequently to the Income Tax Department while the same
ECS detail on electronic media will be sent to the local ZAO by Paying Bank
through the Nodal branch
5. Loss of Counterfoil by the taxpayer
5.1 In the event of loss of receipted challan counterfoil by the
depositors, the bank branches may, on receipt of a specific request in writing
for issue of a certificate of credit from assessees, issue the same to
the depositor based on their record after satisfying themselves about the
bonafides of the applicant in each case and may charge a nominal fee at its
discretion. The certificate should mention the challan details i.e. amount,
bank name and branch, BSR Code and Date of Deposit of cheque/cash, major head,
challan serial number, date of realisation of cheque /date of deposit of cash
and Collecting branch scroll number and date on which details of tax payment
have been transmitted earlier.
6. Functions of Nodal Branch
6.1 Nodal Branch will be responsible for the prompt and accurate
transmission, accounting of the collections/refunds reported to it daily by all
the receiving branches under its jurisdiction (including its own receipts). It
will also be responsible for prompt remittance of the collections of all the
receiving branches linked to it (including its own collections) to the
Government Account at RBI, CAS, Nagpur. It will also be responsible for
reconciliation of figures with the ZAO.
6.2 On receipt of on-line data regarding all the challans
realised for a particular day from the Collecting Branches, the Nodal Branch
will take the following action on day-to-day basis:
a. It will collate the
challan data on its computer system and transmit the data in the format
prescribed by the Income Tax Department to its Link Cell for onward
transmission to the Departments TIN on the same day after giving a common Nodal
Branch scroll number and date to all the challan records being transmitted on
that day.
b. It will also generate
a copy of the summary and main scroll based on the computer data in a floppy or
other media (as informed by ZAO) and transmit it to the ZAO on the next working
day.
c. On receipt of the
hard copy of the computer-generated Branch scrolls from the collecting branch,
the Nodal branch will validate that these computer-generated branch scrolls
exactly match the data transmitted earlier by the collecting branches. It will
consolidate these computer printed Branch scrolls (with challans) received from
all the branches including its own along with the main scroll by stitching the
scrolls together Major head-wise. It will also generate a computer printout of
the Major head-wise Main scrolls and Summary. It will then forward these
(with challans) to the ZAO concerned on a daily basis.
d. Second set of scroll
prepared in the same manner without challans as discussed at (c) above will be
retained by the Nodal branch for its record.
e. The Nodal branch will
also similarly generate computer printed separate main scrolls for payments
(i.e. refunds), and forward them along with the paid ITROs to the ZAO. It will
also forward ECS refund details on electronic media to the local ZAO. The
refund data (in respect of paper ITROs and ECS refund) will be transmitted
on-line by the Nodal Branch to TIN through the Link Cell. It will retain the
advice/advices of the paid ITROs.
f. During the first 15
days in April every year, the nodal branches will transmit and prepare two
separate sets of scrolls – one normal scroll pertaining to April transactions
and the other one pertaining to March transactions (which means scrolls of
cheques / drafts / ITROs tendered and cleared upto 31st March by receiving
branches and sent to the nodal branch subsequent to 31st March but before 15th
April) - these will be scrolled by nodal branch as March residual account. The
nodal branches will intimate the link cell at Nagpur for inclusion of these
transactions as March transactions. The nodal branches will send another scroll
for April transactions prominently indicating the month of account. Any cheque/draft
tendered on or before 31st March and realised on or after 1st April will be
treated as part of the April transactions. However, in light of the instruction
that data for all challans for which payment has been realised on a given day
should be transmitted online to the Income Tax Department on the same day,
separate March residual scroll should only be needed in exceptional cases.
g. The nodal branch will
pass on the consolidated amount accounted by it to its Link Cell on day-to-day
basis.
7. Crediting the tax collection to Government Account
7.1 The Nodal Branch acts as a pooling centre for all the
receiving branches coming under its control and it is responsible for reporting
of the transactions (along with all the related documents i.e. Challans and
scrolls) to the ZAO. It is also responsible for transmitting the challan data
for all these transactions to its Link Cell at Nagpur for onward online
transmission to the Income Tax Department as well as for crediting the amount
collected to Reserve Bank of India (Central Accounts Section or CAS), Nagpur.
7.2 The Nodal Branch will prepare a daily memo and send it on a
daily basis to its Link Cell at Nagpur (GAD, Mumbai in case of SBI) which in
turn will make a daily settlement with RBI, CAS, Nagpur.
7.3 The Link Cell of banks at Nagpur will consolidate the challan
data received from the Nodal Branch for transmission to the Department's Tax
Information Network (TIN) and will also monitor the daily receipts and check
the accuracy of the daily memos received from the Nodal Branches. The Link Cell
will then transmit the daily memos to CAS, RBI, Nagpur.
7.4 The Nodal Branches of the banks will carry out monthly
reconciliation with ZAOs of the amount settled by them with their Link Cell at
Nagpur. On the basis of their records the ZAOs will verify the statements
received from the Nodal Branches both major head-wise and Nodal Bank-wise. In
case of any discrepancy, the Nodal Branch will carry out the corrections
immediately and adjust the difference in the amount already credited / debited
to the CBDT’s account through its Link Cell at Nagpur under information to the
ZAO.
7.5 For the purpose of final reconciliation of the transactions
with ZAOs and the Link Cell, the CAS, RBI, Nagpur will generate a monthly statement
and furnish the same to ZAO and the Link Cell of the banks. RBI, CAS, Nagpur
will furnish by 20th of the following month, a monthly analysis indicating
major head-wise receipts / refunds etc. to the CCA, CBDT.
8. Payment of interest on delayed transfer of tax collections
8.1 The tax collections effected by the designated branches of
the authorized banks have to be credited to the Government Account, promptly on
day-to-day basis. The maximum number of days allowed for crediting tax
collections to Government Account at CAS, Nagpur is as under:
i.
T+3 working days for all banks except private sector banks
ii.
T+3 days for private sector banks and IDBI Ltd
8.2 If there is any delay beyond the period prescribed above, the
banks are liable to be charged interest for delayed period. The interest for
delayed remittance as mentioned above is to be quantified and collected from
the defaulting bank by the ZAOs. The rate of interest to be charged is Bank
Rate as prevailing (which is generally notified biannually on May 1 and
November 1) plus 2% or as decided by Reserve Bank in consultation with CGA from
time to time.
9. Accounting of "March" transactions
9.1 Reserve Bank, Central Office, Mumbai will issue in the month
of February each year special instructions to all banks collecting direct taxes
regarding the procedure to be adopted in accounting the March transactions.
9.2 The Nodal banks will be receiving scrolls relating to March
of the previous Financial Year in April of the current year. In order to
account for the entire collections of March in the same financial year the
Nodal banks have to follow the following procedure during the month of April:
The nodal banks have to prepare two sets of separate scrolls
- one pertaining to March residual collections (payments realized from
taxpayer’s account before 31st March) and another for April
transactions during the first 15 days in April. They should ensure that all the
tax collections made by the receiving branches upto 31st March are accounted as
“March Residual Transactions” and should not be mixed up with the
transactions of April which fall in the financial year. The main scrolls for
March transactions prepared from 1st to 15th April are to be distinctly marked
as “March Residual”.
9.3 It may also be noted that all the cheques / amount realized
on or before 31st March should be treated as transactions relating to the
current financial year and should be accounted for as such under the head “March
or March Residual Transactions” in the current financial year.
9.4 While reporting to their Link Cell in Nagpur, the Nodal banks
should send two sets of figures distinctly showing March Residual and April
Transactions separately upto 15th April.
9.5 The date-wise monthly statements should also be prepared in
two sets, one pertaining to March Residual Transactions and another
relating to April Transactions.
10. Special arrangements during the month of March every year
10.1 The branches should follow the procedure explained in the
earlier paragraphs meticulously and ensure that the collections made towards
direct taxes are passed on promptly for credit to Government Account through
the Nodal Branch / Link Cell. However, during the second fortnight of March
every year, wherever the receiving branches and Nodal branch are situated
locally, a special messenger system should be introduced by the receiving
branches. All efforts may also be made to provide the collection figures on
daily basis to the ZAO during the second fortnight of June, September and
December every year, for onward transmission to the Government for monitoring,
estimates etc.
11. Monitoring Committee - holding of periodical meetings
11.1 For the smooth functioning of the revised scheme for
collection and accounting of direct taxes by the Authorised Banks, the
Monitoring Committees consisting of officials from Nodal Banks/local
authorities of the banks, ZAO and I.T. Department will be formed at every Zonal
Accounts Office centre. The Committee will meet half-yearly and discuss various
issues connected with direct tax work such as accounting, scrolling, reporting,
remittance and reconciliation etc. and make efforts to sort out the problems at
its own level. Further, annually there will be a special Monitoring Committee
meeting in which very senior officials from CBDT, RBI, I.T. Department and
banks will participate and redress the various problems being faced by the
banks, ZAOs and I.T. Department in the fields. Banks will ensure that the
necessary follow-up actions are taken on the Minutes of such meetings.
12. Redressal of public grievances
12.1 Each Authorised Bank should have an effective procedure for
dealing with public complaints at the branches rendering service to Government
Departments or members of the public as prescribed, from time to time. In case
the bank detects a mistake in reporting of a tax payment or the major head of
tax payment, either suo moto or being brought to its notice by the tax payer,
the bank will promptly transmit the error record (as described earlier at paras
2.6 and 7.4) to TIN. This is imperative as the Income Tax Department will give
credit to a taxpayer’s on the information transmitted by the bank to TIN.
Annex
II
OLTAS
User Manual for File
Segregation Utility (FSU)
Introduction
The FSU will be used by
banks to generate a valid file from invalid input file and corresponding error
file. This user manual will enable the bank users to better understand the
functionalities provided in this File Segregation Utility.
Intended Users:
This manual is intended
for the Link Cells of banks participating in OLTAS.
Conventions used
Detailed information
about each field or button is available in the Field Description table
following every task.
1. Overview
FSU in a utility which
helps in generating a valid OLTAS file by removing the erroneous records. If
you have an OLTAS file and the error file corresponding to it, this utility
will help you to get rid of the erroneous records and make a new correct file.
It removes the rejected records by reading the error file and generates a new
file consisting valid records only with auto-generated RT04 records. This
correct file can be uploaded to OLTAS site. All the rejected records are
separated and kept in other file for your reference.
2. Functionality
When you open the
SPECIAL_FVU.exe file a utility will be seen as below.
Figure 1
The utility contains
name of utility at the top, buttons for minimizing and closing the utility,
four text fields and four buttons named “Browse”, a start button and a cancel
button. A copyright message and version number will also be visible.
The user is required to
enter valid inputs in all the four text fields described below.
A. Input Base File:
Give the full file path
of the base file. This base file is the file which has got rejected due to some
errors. You can select the file by clicking on browse button. It will show you
an ‘open’ box as displayed below (Figure 2). Browse to the required folder,
select the file and then click open.
Input file name should
be in “ddmmyyfv.bnk” format only.
Figure 2
File extension should
contain valid bank code.
B. Input Error File:
This is the error for
the Input base file. (The one selected in step 1) The error file can be
downloaded and saved from OLTAS site. You can also use the error file generated
by OLTAS link cell utility. You need to give the full path of the error file.
The browse button on the right hand side can be used as explained above. The
error file contains the file name for which errors are found. This name should
match with input base file. User should not change this file. Also if the
correct error file is not used, following message will be shown and utility
will get stopped (Figure 3).
There is no validation
for name of the input error file.
Figure 3
Note : Output valid file
will not get generated correctly if any one out of two input files has got
tampered. Also Error file generated from FVU or obtained from OLTAS site is
acceptable. NO OTHER formats should be used, as they may give wrong results.
C. Output base file:
This is the output valid
file which can be uploaded to OLTAS site or validated through FVU. Full path of
the file needs to be specified. The filename can be same as input base file
name if the location is different else it will get overwritten to the input
base file. Use browse button for browsing to required folder and then enter the
required filename. The extension of the input base file and output base file
should match.
a. Field MAJ_HD_CD,
TOT_NO_OF_RFND, TOT_NO_OF_CHLN, TOT_NO_ERR_RFND, TOT_NO_ERR_CHLN, RFND_TOT_AMT,
CHLN_TOT_AMT in RT04 are calculated from the records data present in output
valid file.
b. No_Of_Nodal field
will be calculated from the records data present in Output Valid File i.e.
distinct ZAO Codes present in Output Valid File.
c. Transmission date for
every RT04 will be same as ddmmyy part of the Output Valid File Name.
d. Field RFND_DEBIT_DT
of RT04 is kept BLANK.
e. In a particular RT08
R / N combination, if there is error in any of the records, both the records
will be rejected and put into the Output Error File.
The output base file
name should be in format “ddmmyyfv.bnk”
D. Output error file :
The utility will put all
the rejected records in this file. User need to give the full path for this
file. There is no validation for the name of this file.
Start Button:
After entering valid
filenames in all the four fields as above, click start button. A message will
be shown after successful completion of the process.
Cancel Button:
Use Cancel button to
close the utility.
Annex
III
Format for Nodal Branch Daily Main Scroll (Receipts)
|
1
|
NODAL
BRANCH SCROLL DATE (DD/MM/YYYY)
|
|
|
|
2
|
BSR
CODE
|
|
|
|
3
|
DATE
OF RECEIVING BRANCH SCROLL (DD/MM/YYYY)
|
|
First six
fields
|
|
4
|
TOTAL
TAX AMOUNT
|
|
|
|
5
|
TOTAL
NO. OF CHALLANS
|
|
|
|
6
|
DO-ID
|
|
|
|
#
|
MAJOR
HEAD
|
|
|
|
#
|
AMOUNT
|
|
Block
|
|
#
|
NO.
OF CHALLANS
|
|
|
|
#
|
MAJOR
HEAD
|
|
|
|
#
|
AMOUNT
|
|
Block
|
|
#
|
NO.
OF CHALLANS
|
|
|
|
#
|
MAJOR
HEAD
|
|
|
|
#
|
AMOUNT
|
|
|
|
#
|
NO.
OF CHALLANS
|
|
|
This
block (shown above) will be repeated for as many times as no of tax heads are
available.
NOTE:
1) The record for one receiving branch should be contained in
one line and values must be comma separated.
2)
Carriage return or linefeed [i.e. ENTER KEY (↵)] indicates the end of the
record for one receiving branch.
3)
Sequence of block (majhd, amt, no_challan) is not necessary but increasing
order is preferable.
4)
Example:
First
six fields block block block
30/11/2005, 0230001, 25/11/2005, 6600, 22, PNE, 0020, 200, 2,
0021, 100, 1, 0024, 300, 4, 0026, 400, 2, 0031, 500, 1, 0032, 600, 2, 0033,
700, 1, 0034, 800, 1,
0070, 900, 1, 0036, 1100, 5
First
six fields
Block
Block
32
Detailed example
First
six fields block block block
13/11/2005,
0000455, 12/11/2005, 5775, 18, PNE, 0020, 1525, 6, 0021, 200, 2, 0023, 100, 1,
0026, 300, 2, 0031, 600, 1,0032, 750, 2, 0033, 550, 1, 0034, 800, 2, 0070, 950,
1 ┘
13/11/2005,
0003861, 12/11/2005, 9950, 17, PNE, 0020, 3500, 5, 0020, 2250, 3, 0023, 300, 1,
0026, 400, 1, 0031, 500, 1,0033, 600, 2, 0032, 700, 1, 0034, 800, 2, 0070, 900,
1 ┘
13/11/2005,
0004618, 11/11/2005, 640112, 22, PNE, 0020, 629367,20, 0021, 10745, 2 ┘
13/11/2005,
0230011, 11/11/2005, 47071, 2, PNE, 0020, 47071, 2 ┘
13/11/2005,
0230116, 10/11/2005, 304648, 20, NSK, 0020,26942, 2,0021, 277706, 18 ┘
13/11/2005,
0230004, 13/11/2005, 408134, 16, NSK, 0020, 407190, 15, 0021, 944, 1 ┘
5) If nodal bank is sending the scrolls of two different
dates for the same receiving branch in one DRS then their entry should be two
different lines in the DRS file as shown below:
14/11/2005,
0002053, 12/11/2005, 5775, 18, PNE, 0020, 1525, 6, 0021, 200, 2, 0023, 100, 1,
0026, 300, 2, 0031, 600, 1,0032, 750, 2, 0033, 550, 1, 0034, 800, 2, 0070, 950,
1 ┘
14/11/2005, 0002053, 13/11/2005, 9950, 17, PNE, 0020, 5250,
6, 0023, 500, 2, 0024, 300, 1, 0025, 400, 1, 0031, 500, 1, 0033, 600, 2, 0033,
700, 1, 0034, 800, 2, 0070, 900, 1 ┘
14/11/2005,
0002034, 13/11/2005, 408134, 16, NSK, 0020, 407190, 15, 0021, 944, 1 ┘
·
Observe first two lines of
above DRS in which both lines contain same nodal branch scroll date and BSR
code, which is a must in this case, but different details.
·
Date of receiving branch
scroll is different which must be lesser then nodal branch scroll date.
·
Third line is regular row
for other branch of the same nodal bank.
6)
DATE: is date in DD/MM/YYYY format.
BSR
CODE: is 7-digit numeric code.
DO-ID:
is 3-digit alpha code.
MAJOR
HEAD: is 4-digit numeric code.
AMOUNT
and NO OF CHALLAN are numeric values.
Annexure-A-IV-I
Draft proforma of computer generated receipts to be
issued by banks to taxpayers
|
Computer generated receipt
(to be
issued by collecting bank branch to depositor of direct tax for deposit of
Tax
Deducted at
Source in Government account against challan form No.281)
|
|
Name of the bank collecting tax
|
|
|
Full name of deductor
|
|
|
TAN of deductor ( 10 characters )
|
|
|
Amount deposited :
|
|
|
(i) Income Tax
|
|
|
(ii) Surcharge
|
|
|
(iii) Education Cess
|
|
|
(iv) Penalty
|
|
|
Total amount deposited : (in figure )
|
|
|
Mode of deposit of tax (by cash / debit to
account/ by cheque bearing No.)
|
|
|
Date of encashment of cheque (dd/mm/yy)
|
|
|
On account of Income Tax Deducted / Collected
from companies (0020)/ Other than Companies (0021)
|
|
|
Minor head –Type of payment-(TDS/TCS
deducted/collected by deductor OR demanded by department)
|
200/400
|
|
Nature of payment from which tax has been
deducted or collected –(Give Section code)
|
|
Assessment Year (yyyy-yy)
|
|
|
Challan Identification number (CIN)
|
|
BSR code of collecting bank branch ( 7 characters
)
|
|
|
Date of tender of cheque ( dd /mm /yyyy) ( 8 characters
)
|
|
|
Challan Serial Number ( 5 characters )
|
|
|
Signature & seal of authorized signatory of
collecting bank branch
↓
|
|
|
|
Annexure-A-IV-II
Draft proforma of computer generated receipts to be
issued by banks to taxpayers
|
Computer generated receipt
(to be
issued by collecting bank branch to depositor of direct tax for deposit of
Tax
Deducted at
Source in Government account against challan form No.280)
|
|
Name of the bank collecting tax
|
|
|
Full name of taxpayer
|
|
|
PAN of taxpayer ( 10 characters )
|
|
|
Amount deposited :
|
|
|
(i) Income Tax
|
|
|
(ii) Surcharge
|
|
|
(iii) Education Cess
|
|
|
(iv) Penalty
|
|
|
Total amount deposited : (in figure )
|
|
|
Mode of deposit of tax (by cash / debit to
account/ by cheque bearing No.)
|
|
|
Date of encashment of cheque (dd/mm/yy)
|
|
|
On account of Income Tax Deducted / Collected
from companies (0020)/ Other than Companies (0021)
|
|
|
Minor head –Type of payment
|
|
|
Assessment Year (yyyy-yy)
|
|
|
Challan Identification number (CIN)
|
|
BSR code of collecting bank branch ( 7 characters
)
|
|
|
Date of tender of cheque ( dd /mm /yyyy) ( 8 characters
)
|
|
|
Challan Serial Number ( 5 characters )
|
|
|
Signature & seal of authorized signatory of
collecting bank branch
↓
|
|
Annex IV
How do I make online tax payment
sitting at home/office?
Open a net-banking account with
any of the banks listed above.
i. Go to website
incometaxindia.gov.in, click on 'pay taxes on-line'.
ii. Fill in the
required challan online. Help is available on screen as FAQ, downloads etc.
iii. Make tax
payment through net-banking account online.
iv. A challan
counterfoil will be available instantaneously on the screen with CIN (Challan
Identification Number). The Challan Identification Number (CIN) on this
counterfoil should be quoted in Return of Income.
v. Print the
counterfoil and also save it in the computer if possible.
vi. Check if
your payment has reached the Income Tax Department at
https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayer.
**************
What
are the advantages of paying taxes online
i. You can pay
taxes from any location at any time through your net-banking account
ii. Instant
transfer of funds from your account.
iii. What you
write on the e-challan will be directly sent to Income Tax Department.
Banks will not do any data entry.
iv. You can
save/print the challan copy and the receipt copy.
v. As soon as
your Bnak authorizes payment of the amount, you will receive a clear, legible
receipt/counterfoil from your bank.
vi. Transaction
id of the e-payment transaction will be available to you in your bank
statement.
vii. You can
check online if your money has actually reached the I-T department. For this you
have to go to Tax information Network website:
https://tin.tin.nsdl.com/oltas/index.html
and
click the box
For detailed information please go
to: incometaxindia.gov.in PAY TAXES ONLINE
IMP: In
case of refunds adjusted against arrear demand, the normal refund should be
attached with challan and sent to Bank by AOs as per earlier procedure.
Master
Circular — Index
|
Sr.No.
|
Reference No
|
Subject
|
|
1.
|
DGBA.GAD.No.H-684/42.01.001/2003-04 dated January
9, 2004.
|
Amendments to Pink Book ‘Accounting System for
Direct Taxes’.
|
|
2
|
RBI 2004/135
DGBA. GAD.No.1142 /42.01.001/2003-04 dated April
2, 2004
|
Procedure for Collection of Taxes at Bank
Branches - Customer Service
|
|
3
|
RBI/2004/131 DGBA.GAD.No.1008/42.01.034/2003-04
dated April 1, 2004
|
Introduction of On-line Tax Accounting System
(OLTAS) - Branding of Rubber Stamp on copies of Challans
|
|
4
|
RBI/145/2004
DGBA.GAD.No.H-1068 /42.01.034/2003-04 dated April
16, 2004
|
Accounting Procedure for On-line Tax Accounting
System (OLTAS)
|
|
5
|
RBI/2004/184
DGBA.GAD.No.H-1114/42.01.034/ 2003-04 dated April
29, 2004
|
Implementation of On-line Tax Accounting System
with effect from June 1, 2004
|
|
6
|
RBI/2004/75
DGBA.GAD.No.H-69/42.01.034/2004-05 dated July 28,
2004
|
On-line Tax Accounting System (OLTAS) -
Transmission of data to NSDL - Validation Checks
|
|
7
|
RBI/2004/326
DGBA.GAD.No.3278-3311/42.01.034/ 2004-05 dated
December 31, 2004
|
Abolition of Sub-Agency Arrangements for
Collection of CBDT Dues – OLTAS
|
|
8
|
RBI/2005/406
DGBA.GAD.5236/42.01.034/2004-05 dated March 29, 2005
|
On-line Tax Accounting System (OLTAS)-Funds
Settlement - Reporting to RBI, CAS Nagpur
|
|
9
|
RBI/2005/466
DGBA.GAD.No.H.5801/42.01.034/2004-05 dated May
13, 2005
|
On-line Tax Accounting System (OLTAS) – Funds
Settlement
|
|
10
|
RBI/2004/213
DGBA.GAD.No.H- 1169 / 42.01.034 / 2003-04 dated May 22, 2004
|
Accounting Procedure Relating to On-Line Tax
Accounting System (OLTAS) - Clarifications
|
|
11
|
RBI/2004/181
DGBA.GAD.No.H-235/42.01.034/2004-05 dated
September 15, 2004
|
On-line Tax Accounting System (OLTAS) -
Participation of Branches
|
|
12
|
RBI/2004/164
DGBA.GAD.No.H-170/42.01.034/2003-04 dated
September 4, 2004
|
Critical Issues regarding data capture of OLTAS
data by banks
|
|
13
|
RBI/2005/411
DGBA.GAD.No.H-5287/42.01.034/2004-05 dated April
1, 2005
|
On-line Tax Accounting System (OLTAS) -
Accounting Procedure relating to crediting of CBDT collections to Government
accounts.
|
|
14
|
RBI 2005/412
DGBA.GAD.No.H5318 /42.01.034/ 2004-05 dated April
4, 2005
|
De-authorisation of bank branches
for collection of Direct Taxes
|
|
15
|
RBI/2005/81
DGBA.GAD.No.382/42.01.034/2005-06 dated July 26, 2005
|
OLTAS - File Segregation Utility developed by Tax
Information Network (TIN)
|
|
16
|
RBI/2005/39
DGBA.GAD.No.H-42/42.01.034/2005-06 dated July 4,
2005
|
Finance Act 2005- Changes in Major
Head and Challans - OLTAS
|
|
17
|
RBI/2005/43
DGBA.GAD.No.H-76/42.01.001/2005-06 dated July 5,
2005
|
Levy of Banking Cash Transaction Tax on the Cash
withdrawal by the Government Departments
|
|
18
|
RBI/2005/85
DGBA.GAD.No. H- 414/42.01.001/ 2005-06 dated July
30, 2005
|
Obligation of Schedule Banks to furnish
information on Banking Cash Transaction Tax (BCTT).
|
|
19
|
RBI/2004/300
DGBA.GAD.NO.H.2532-65/42.01.034/ 2004-05 dated
December 14, 2004
|
Compulsory Quoting of Permanent Account Number
(PAN) / Tax Deduction Account Number (TAN) on Challans from 1/1/2005
|
|
20
|
DGBA.GAD.No.H-8649/42.01.034/2005-06 dated
December 23, 2005
|
OLTAS-Software validations at banks
|
|
21
|
RBI/2006/295
DGBA.GAD.No.H.11140/42.01.034/2005-06 dated
February 2, 2006
|
Online Tax Accounting System (OLTAS) - Sending
daily scrolls by e-mail to ZAOs
|
|
22
|
DGBA.GAD.No.H-8294/42.01.037/2005-06 dated
December 14, 2005
|
Online Tax Accounting System –
Drawing of Cheques by Assessees- Payee's Name
|
|
23
|
RBI/2006/55
DGBA.GAD.No.H-161/42.01.034/2005-06 dated July 7,
2006
|
OLTAS - Verification of PAN/TAN
|
|
24
|
RBI/2005/265
DGBA.GAD.No.H-8824/42.01.034/2005-06 dated
December 28, 2005
|
Compulsory quoting of Permanent Account Number
(PAN) / Tax Deduction Account Number (TAN)- State of Rajasthan
|
|
25
|
RBI/2006/150
DGBA.GAD.No.H-6226/42.01.011/2006-07 dated October 10, 2006
|
Permissible period of remittance of Government
Revenues.
|
|
26
|
RBI/2007/235
DGBA.GAD.No.H-11763/42.01.011 /2006-07 dated
January 24, 2007
|
Delay in Remittance of Government Receipts -
Delayed Period Interest
|
|
27
|
RBI/2007/286
DGBA.GAD.No.13742/42.01.011/2006-07 dated March 13, 2007
|
Delay in Remittance of Government
Receipts-Delayed Period Interest
|
|
28
|
DGBA.GAD.No.3774/42.01.034/2007-08 dated October 9, 2007
|
Discrepancies in Challan Details uploaded to TIN
|
|
29
|
RBI/2008/275
DGBA.GAD.No.10577/42.01.038/2007-08 dated April 3, 2008
|
Cut-off time for e-payment transactions
pertaining to Government Revenue
|
|
30
|
RBI/2008/280
DGBA.GAD.No.H-10875 / 42.01.038/ 2007-08 dated April 10, 2008
|
Mandatory e-payment of tax by certain categories
of taxpayers w.e.f. 01.04.2008
|
|
31
|
RBI/2008/321
DGBA.GAD.No.H-11895/42.01.038/ 2007-08 dated May 15,2008
|
Mandatory e-payment of direct taxes by corporate
and assesses coming under Sec.44AB of IT Act
|
|
32
|
RBI/2008/328
DGBA.GAD.No.H-12070/42.01.034/ 2007-08 dated May 22, 2008
|
Improvement in data quality- Introduction of
Computerised receipts w.e.f. June 1, 2008
|
|
33
|
DGBA.GAD.No.H.551/42.01.011/2008-09 dated July 18, 2008
|
Permissible Period of Remittance of E-payment of Government
Transactions – Private Sector Banks
|
|
34
|
RBI/2008/09/97
DGBA.GAD.No.H. 549/42.01.011/2008-09 dated July 18, 2008
|
Permissible Period of Remittance of e-payment of
Government Transactions – Public Sector Banks
|
|
35
|
RBI/2009/463
DGBA.GAD No.H-9284/42.01.011/2008-09 dated April 28, 2009
|
Recovery of Interest from Public Sector Banks on
delayed remittances
of Government Receipts into Government Account
|