The On-line tax accounting system (OLTAS) for collection, accounting and reporting of direct taxes (List of Direct Taxes) is operational in 163 authorized branches all over India.
For every tax payment made by the taxpayer 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. A taxpayer can deposit tax by:
- Cash or
- Cheque on same branch or
- Cheque / draft drawn on the same bank or another bank / branch at the same center where the payment is made or
- Payment by outstation cheques / drafts can also be made at any authorized bank.
- Through Internet Banking.
Every challan will have a unique identification number called Challan Identification Number (CIN). This consists of BSR code (Bank branch code), Challan Tender Date (cash / cheque deposit date) and Challan Serial Number. With the help of CIN, every payment will be uniquely identified enabling online transmission of details of tax payments by banks to the Income Tax department.
Tax Information Network (TIN), being established by National Securities Depository Limited (NSDL), provides a facility to the tax payers to inquire about the status of their challans over internet. Tax payers have to log on through http://tin.nsdl.com to view whether the challan for the tax payments is received by TIN. 'Your tax Data is transmitted on the same day by online tax collecting system, Remember to quote PAN / TAN on Challans which is now mandatory'