RBI/2004/181
DGBA.GAD.No. H-235/42.01.034/2004-05
September 15, 2004
The Chairman and Managing Director /
Managing Director
State Bank of India and its Associates /
All Public Sector Banks /
HDFC Bank Ltd. / ICICI Bank Ltd. /
UTI Bank Ltd. / IDBI Bank Ltd. and
Jammu & Kashmir Bank Ltd.
Dear Sir,
On-line Tax Accounting System (OLTAS) - Participation of Branches
It has been brought to our notice by the Directorate of Income
Tax (Systems), New Delhi that as many as 1384 authorised branches of Agency
Banks did not upload the challan data to Income Tax Department's Tax Information
Network (TIN) during the period September 6-11, 2004. Despite stressing the
importance of participation in OLTAS by all authorised branches in seminars/workshops
at several places across the country and reiterating the same through various
circulars, reporting of tax data has not reached the desired level even after
more than three months of its formal roll out.
2. In this connection, attention of agency banks is also invited
to the discussion held in the meeting of OLTAS Technical Committee on July 21,
2004 at Indian Bank’s Association, Mumbai wherein, urgency of participation
of all tax collecting bank branches was re-emphasised and all the banks had
committed to ensure 100% transmission of tax data by their branches to TIN.
Income Tax Department has, therefore, expressed serious concern about non-uploading
of data to TIN by such a large number of branches.
3. With a view to ensuring full participation of authorised
branches, you are once again requested to direct all Controlling Offices of
your bank to do close monitoring of authorised branches as well as nodal branches
under their jurisdiction and ensure that each and every challan record is transmitted
to TIN by every branch where tax collection has been made. It is reiterated
that a nil statement (Record Type 02) may be transmitted to the nodal branch
where there has been no collection during the day so that implementation of
OLTAS is monitored properly by TIN.
4. It is also emphasized that the data transmitted to TIN is
correct and complete and conforms with the stipulated procedures.
5. Please acknowledge receipt.
Yours faithfully,
Sd/-
(M.T.Varghese)
General Manager
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