DGBA.GAD.No.H. 5801 /42.01.034/ 2004-05
May 13, 2005
The Chairman and Managing Director Managing Director
State Bank of India and its Associates/ All Public Sector Banks /
HDFC Bank Ltd. / ICICI Bank Ltd./ UTI Bank Ltd./
IDBI Ltd./ Jammu & Kashmir Bank Ltd.
On-line Tax Accounting System (OLTAS) – Funds Settlement
Please refer to our circular RBI/2005/406 dated March 29, 2005
regarding funds settlement under OLTAS.
2. It has been brought to our notice that a few agency banks
have interpreted our instructions to mean that the challan data should be first
uploaded to Tax Information Network (TIN) and thereafter taking into consideration
the files rejected by NSDL, the settlement figure should be arrived at for uploading
the Funds Settlement file to Central Accounts Section (CAS-RBI), Nagpur. In
this connection, we would like to clarify that the financial data file uploaded
to CAS, Nagpur on any given date for funds settlement and the challan data relating
to that particular settlement date uploaded to TIN should exactly match. Files
rejected subsequently by NSDL, if any, due to validation errors etc. should
be processed separately and re-uploaded. Please ensure that challan data
in respect of each and every challan deposited by the assessee is uploaded and
duly accepted by TIN. Such re-uploading of files to TIN would not
affect the funds settlement data. The requirement of complete reporting to TIN
would be achieved if the data going from Link Cells to CAS, Nagpur and the relative
challan data going to TIN are uploaded concurrently.
3. Please advise your Link Cell accordingly to ensure that
there is no mismatch in figures uploaded to CAS and TIN for a given uploading
4. You may also reiterate to your Nodal Branches to follow
the instructions contained in paragraph 6 (extract enclosed) of the ‘Accounting
Procedure Relating to On-line Tax Accounting System (OLTAS)’ meticulously and
advise them to dispatch the Scrolls and Challans etc. on a day -to- day basis
to Zonal Accounts Offices concerned.
5. Please acknowledge receipt of this circular to my Office.
Chief General Manager- in- Charge