OLTAS challan payment can either be made directly at the authorised banks in the form of cash, demand draft, or, cheque or it can be done online via the e-payment service of the bank. Inorder to pay online one has to follow a few easy steps.
Direct taxes made by taxpayers can only be collected by banks that employ the Online Tax Accounting System (OLTAS). Previously, the direct taxes paid at the banks had to be collected and consolidated manually, which was a time consuming process that was both cumbersome as well as prone to human error on a fairly frequent basis. Since then, banks have moved from this set up to the Online Tax Accounting System in order to not only speed up the process of collecting and assessing direct tax payments, but to rid it of errors so as to provide accuracy of information and data to the taxpayers.
In order to make challan payments through the OLTAS system, the taxpayers are required to already have an online banking account at any of the banks that make us of the Online Tax Accounting System. E-payment of taxes has made it easier and more convenient for both taxpayers as well as the banks to pay as well as collect direct taxes respectively. The banks that offer the OLTAS facility to taxpayers are as follows:
Taxpayers can make the challan payment either personally at the bank or via e-payment through their relevant bank's net banking service.
Taxpayers can visit their respective authorised banks personally and make direct tax challan payments through the Online Tax Accounting System at the bank. All authorised banks accept payment of direct taxes either through means of cash or through a demand draft or cheque.
Taxpayers who prefer to make direct tax challan payments online via their authorised banks e-payment or net banking portals can do so by following the steps outlined below:
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
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