Master Circular on Collection of Direct Taxes - OLTAS
No longer current — replaced by Master Circular on Collection of Direct Taxes – OLTAS
Source: Reserve Bank of India · RBI/2009-10/60 · issued 01 Jul 2009 · ~1 min read
Quick answerRBI updated its master circular on collection of direct taxes through OLTAS, consolidating instructions up to end June 2009. Agency banks must follow revised procedures for accepting and accounting CBDT dues, including token issuance and secure challan handling.
What changed
The master circular RBI/2008-09/81 dated July 01, 2008, was updated to incorporate important instructions issued up to end June 2009. The revised circular consolidates all extant instructions on collection of direct taxes via OLTAS for agency banks.
What it means for you
Banks acting as agents for direct tax collection must align their processes with the updated master circular. Key focus areas include proper issuance of paper tokens as payment acknowledgements and secure handling of receipted challans to prevent misuse or loss.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Ensure all authorised branches issue paper tokens for every direct tax payment received.
Securely store receipted challans and prevent customers from accessing them without proper identification.
Update internal procedures to comply with the revised master circular instructions.
Train staff on the updated OLTAS procedures for accounting and reporting CBDT dues.
Who it affects
All agency banks handling direct tax collections, Branch managers and staff at authorised collection points, Compliance and operations teams in agency banks
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 09:19 IST
Superseded by — Master Circular on Collection of Direct Taxes – OLTAS
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What is the purpose of this master circular?
It consolidates all extant RBI instructions on collection of direct taxes through OLTAS, updated as of end June 2009, to provide a single reference for agency banks.
What are the key compliance requirements for banks?
Banks must issue paper tokens as acknowledgements for tax payments, securely store receipted challans, and follow the revised accounting and reporting procedures outlined in the circular.
Which taxes are covered under this circular?
The circular covers Corporation Tax, Income Tax, Wealth Tax, Gift Tax, Fringe Benefit Tax, and Banking Cash Transaction Tax.
📜 This document’s life story (2 recorded events, each backed by RBI’s own words)
Superseded byMaster Circular on Collection of Direct Taxes – OLTAS
RBI’s words: “Please refer to our master circular RBI/2009-10/60 dated July 01, 2009”
📜 Read the original circular — full text as issued by RBI
RBI/2009-10/60
DGBA.GAD.No. H-2 /42.01.034/2009-10
July 1, 2009
To
All Agency Banks
Dear Sir
Master Circular – Collection of Direct Taxes- OLTAS
Please refer to our master circular RBI/2008-09/81 dated July 01, 2008 on the above subject which was issued with a view to facilitate quick reference to all the extant instructions issued on the subject at one place. We have now updated the master circular incorporating important instructions issued by us till end June, 2009. A copy of the same is enclosed for your information. This circular may also be downloaded from our website www.mastercirculars.rbi.org.in
2. Please acknowledge receipt.
Yours faithfully
(B. K. Mishra)
General Manager
Encl: As above
Master Circular on Collection of Direct Taxes
Introduction
The Central Board of Direct Taxes (CBDT) is responsible for administering various direct taxes through the Commissioners of Income-tax located in different parts of the country. The Commissioners of Income-tax are entrusted with the task of collection as well as refund of Income-tax and Corporation Tax, etc. under the Income-tax Act, 1961.
2. The Principal Chief Controller of Accounts (Pr.CCA) is the apex authority of the accounting organisation of the Central Board of Direct Taxes. Under the Departmentalised set up, the Pr.CCA, CBDT has been assigned the functions relating to accounting of all receipts and refunds pertaining to the Direct Taxes. The Pr.CCA sits at New Delhi and operates through Zonal Accounts Offices (ZAOs) across the country. Presently there are 24 ZAOs located at various places.
3. Major Heads of Account
The various types of direct taxes collected by the Income Tax Department are classified under the following Major Heads:
i)Corporation Tax (C.T.)
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/60 · issued 01 Jul 2009. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5150&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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