Master Circular on Collection of Direct Taxes
This circular outlines the revised procedure for the collection of direct taxes through the Online Tax Accounting System (OLTAS).
The major heads of account for direct taxes include:
Tax on Income, Wealth Tax, and Other Direct Taxes.
The revised procedure for accounting system for direct taxes includes:
(i) Issue of Token, (ii) Receipted Challan, (iii) Double Date Stamp on Receipted Challan, (iv) Acceptance of Clearing Cheques, and (v) Do’s and Don’ts.
The OLTAS is a web-based application for online payment of direct taxes.
The transmission of data to NSDL is subject to validation checks.
This circular consolidates and updates the guidelines issued earlier on collection of direct taxes.
Chat with the Master Circular:
Download: Master Circular – Collection of Direct Taxes- OLTAS