Introduction of Computerised Receipts for Challan Payments of OLTAS Transactions

Notification Marquee

RbiAnnouncementWeb

Asset Publisher

Back

Published on May 22, 2008

LISTEN

PDF ( 57812 )

Introduction of Computerised Receipts for Challan Payments of OLTAS Transactions

RBI2007-2008/328
DGBA.GAD.No.12070 / 42.01.034 /2007-08

May 22, 2008

The Chairman & Managing Director/Managing Director
State Bank of India and its Associates/
All Nationalised banks/ Axis Bank Ltd/HDFC Bank Ltd/
ICICI Bank Ltd/IDBI Ltd
J&K Bank Ltd.

Dear Sir,

Improvement in data quality -introduction of computerized receipts w.e.f. June 1, 2008

With a view to improving the data quality, it has been decided in consultation with the Income Tax Department to introduce computer generated receipts for challan payment of OLTAS transactions, comprising of relevant data as entered in your system for being uploaded to NSDL as per draft proforma annexed, alongwith the existing manual receipt w.e.f. June 1, 2008. Since all the components of CIN viz., cheque tender date, BSR code, and challan serial number will be present in the computerized receipt the same need not be put on the existing challan counterfoil.

We also advise you to follow additional guidelines as indicated below to reduce error percentage of challan data uploaded to TIN:

i) Maker Checker System of Data entry: Maker checker system in which the data entry by one is checked by another to exclude the possibility of wrong data entry, may be strictly followed.

ii)Software alert: To minimize the data entry error, the data entry software in the collecting branches should provide alert message where PAN/TAN is not entered or structurally invalid data is entered or PAN is entered in the column meant for TAN or where there is mismatch between minor head and assessment year etc.

iii) Software Validation: You may ensure that the software validations issued by Income Tax Department have been incorporated in your system.

iv) Quality Assurance at bank level: Quality assurance in respect of collection of Government tax is expected from all agency banks.

v) Re-upload of rejected file: The OLTAS data file may be validated through the file validation utility (FVU) before uploading the same to TIN to eliminate rejection of data file at NSDL.

You are requested to issue necessary instructions to your collecting branches to make necessary arrangements to commence issuing of the computer generated receipt with effect from June 1, 2008.

Yours faithfully,

(M.T.Varghese)
General Manager