Andhra Bank
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Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

 
Oltas
 
 Introduction

Our Bank has been collecting direct taxes of different heads of accounts at the authorised branches and remitting the total day's collections on the same day to the Nodal Branch, who in turn consolidate the collections received from the authorised branches including its own collections and pass on the total collections to our Link Branch at Nagpur upon which, the Nagpur Branch immediately advises the collection figures to RBI, CAS, Nagpur and credit to Government Account.

 
 What are Direct Taxes

Any of the following type of tax remitted by the taxpayer is considered to be a Direct Tax.

Corporate Tax
Income Tax
Hotel Receipts Tax
Interest Tax
Expenditure Tax
Estate Duty
Wealth Tax
Gift Tax
Securities Transaction Tax
Banking Cash Transaction Tax
Fringe Benefits Tax

 
 From whom the taxes can be accepted :

The person intending to pay direct tax can remit at any authorised branch of the bank either in cash or by a cheque/draft drawn on the same bank or another bank at the same center.

 
 What is OLTAS :

OLTAS (On-Line Tax Accounting System) is a system of transmission of tax data on a Standardized, Successfully tested and proven On-Line Electronic Mode introduced as per the recommendations of Advisory Group on Tax Reforms.

 
 Purpose of OLTAS :

The purpose of OLTAS is to speed up the transmission of tax data and funds collected by the authorised branches of banks to Government through RBI.

 
 PROCEDURE INVOLVED IN OLTAS :

Challan-wise Tax collection data shall be transmitted by the authorized branches to the respective Nodal Branch, who in turn retransmit to the Link Branch (Nagpur) for onward transmission to National Securities Depository Limited (NSDL)- an agent for CBDT by our Link Branch, Nagpur. This transmission of data should be done On-Line on the same day.

 
 Challan Form :

For every tax payment of direct taxes to be made by the tax payer there is a prescribed challan format, which is a single copy with the main challan at the top and taxpayer's counterfoil at the bottom of the challan with a perforation in between.

The following Single Copy Challan Forms (only four types of challans) are prescribed for payment of various direct taxes:

Type of tax
Challan to be used

Income Tax on Companies (Corporation Tax and Other than companies)

ITNS 280

Tax Deducted at Source from Corporates & Non-Corporates

ITNS 281

Securities Transaction Tax, Hotel Receipts Tax, Interest Tax, Expenditure/Other Tax. Estate Duty, Wealth Tax, Gift Tax

ITNS 282

Banking Cash Transaction Tax, Fringe Benefits Tax

ITNS 283

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