Oltas: Is a system for collection

OLTAS is a system for collection, accounting and reporting of the receipts and payments of Direct Taxes from all kinds of taxpayers, online through a network of bank branches. The taxpayers’ data flows from banks directly to Tax Information Network (TIN). TIN is set up and maintained by the National Securities Depository Ltd., to manage all the data and information about challans between the tax department and the banks. Now, the system is directly integrated in the income tax e-filing portal. ABOUT REFUND BANKER The ' Refund Banker scheme' facilitates transmission of refunds generated on processing of Income tax Returns by CPC-Bangalore/AO to State Bank of India, CMP branch ( Refund Banker) for further distribution to taxpayers. Refunds are being sent in following two modes: RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer's Bank A/c, MICR code/IFSC code of bank branch and correct communication address is mandatory. Paper Cheque: Bank Account No and ... ABOUT TDS REFUNDS Request for refunds of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are processed by Centralized Processing Cell (CPC) of TDS at Ghaziabad. Status of such refunds paid by CPC-TDS are available here. Online Tax Accounting System ( OLTAS ) Tax deducted at Source (TDS) Challan Status enquiry In brief OLTAS is for collection, accounting and reporting of the receipts and payments of Direct Taxes from all kinds of taxpayers, online, through a network of bank branches.