What is OLTAS and how to enquire for OLTAS TDS Challan?

OLTAS is the electronic mode of direct tax accounting, payments, and receipts and is a streamlined mechanism that allows the transfer of statistics related to direct tax-paying individuals from the respective banks to the NSDL (National Securities Depository Limited). This provides for an efficient administration of the Tax Information Network and fulfills the goals of online collection, accounting, receipt and tracking of direct taxes in India. Under OLTAS, specified banks have been integrated and these banks serve as collection and receipt points for the direct taxes paid by the taxpayers. Ever since the entire system was mandated to be made online in 2005, the mechanism of collection direct taxes has become much more smooth and simple than before.

OLTAS has come as a relief for the taxpayers as now they can pay their direct taxes from anywhere in India by visiting the respective bank or simply log on to the official web portal for paying the taxes. Upon payment, the respective bank generates a challan on which the CIN (Challan Identification Number) is mentioned. Earlier, the taxpayer had to attach the copies of a separate receipt challan while filing the income tax returns. However, this system has been replaced and now, the taxpayer simply has to mention the CIN on the challan as the CIN serves as a tracking number for the tax payment done by the person.

The procedure for accounting the income tax and the TCS (Tax Collected at Source) or TDS (Tax Deducted at Source) is similar for the taxpayers and the banks. You simply have to log on to the official portal of OLTAS and click on the tab listed for taxpayers. Once you do that, then click on CIN based view and mention the CIN (you can alternately click on TAN based view and mention the TAN. It must be noted that tracking on OLTAS can be done 7 days after submitting the payment challan at the respective bank.

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