Master Circular on Direct Tax Collection via OLTAS

RBI/2013-14/99 DGBA.GAD.No.H - 3/42.01.034/2013-14 July 1, 2013 To All Agency Banks Dear Sir / Madam Master Circular – Collection of Direct Taxes- OLTAS Please refer to our master circular RBI/2012-13/101 dated July 02, 2012 on the above subject. We have now updated the master circular incorporating important instructions issued by us till end of June 2013. 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) Chief 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)

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/99 · issued 01 Jul 2013. The plain-English explanation above is BankPulse’s own independent summary.

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