ATTENTION
TAX PAYERS!
NEW CHALLANS FOR TAX PAYMENTS |
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With effect from 01/06/2004, tax payments have to be made
only in the following challans: |
- ITNS
280 – FOR PERSONAL INCOME-TAX, CORPORATION TAX
AND WEALTH TAX (OTHER THAN TDS)
- ITNS
281 – TAX DEDUCTED AT SOURCE FROM CORPORATES
AND NON-CORPORATES
- ITNS
282 – GIFT TAX, ESTATE DUTY, EXPENDITURE TAX
AND OTHER DIRECT TAXES
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| NOTE:
HARD COPY OF THE CHALLANS CAN BE COLLECTED FROM INCOME
TAX OFFICE. |
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| These
new challans are part of the new ONLINE TAX ACCOUNTING
SYSTEM(OLTAS) which comes into effect from 01/06/2004.
These challans may be collected from the Local Income-tax
Offices. |
| |
SPECIAL
FEATURES
- Single
copy challan with main portion on top and tax-payers
counterfoil at the bottom. No need to fill in quadruplicate
anymore.
- Bank
will retain main portion and return the counter foil
to the tax-payer after stamping it with the unique
CHALLAN IDENTIFICATION NUMBER(CIN)
- CHALLAN
IDENTIFICATION NUMBER (CIN) comprises of a seven digit
BSR code of the bank branch, the date of deposit and
the challan serial number in five digits.
[more...]
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MANDATORY
REQUIREMENTS
- All
columns in the challan should be compulsorily and
correctly filled up or ticked as the case may be
-
PAN of the tax-payer and PAN/TAN of the Deductor should
be correctly indicated failing which the taxpayer
may not get credit for tax paid
-
The tax-payer should collect a proper stamped acknowledgement
from the Bank indicating the Challan Identification
Number (CIN)
-
The Challan Identification Number (CIN) of the challan
for payment of self-assessment tax and advance tax
should be indicated in the return of income filed
with the Department.
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| In
the TDS Challan, Code for nature of payment should be
correctly and compulsorily indicated. |