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What is the full form of TIN:TIN represents Tax Information Network.TIN helps in modernizing the current tax system. It helps in modifying the collection of tax, its processing, accounting of direct tax, monitoring. It is done with the help of information technology. This network was started by the Income Tax Department of India. TIN maintains the tax related information for all the states in our country. It was established by NSDL on behalf of Income Tax Department. There are two main systems under TIN. They are: ERACS and OLTAS.ERACS is abbreviated as Electronic Return Acceptance and Consolidation System. It has multiple centers all over the country to maintain an interface between the tax payers. It also provides a utility which is web based for entering or uploading the returns of tax deductions at source electronically. It also provides uploading of details of Tax Collection at source and annual information return. OLTAS is an abbreviation for Online Tax Accounting System. As the name suggests it provides the daily upload on the tax accounting to the central system. It also helps in uploading the details of tax deposited in different tax collecting centers all over the country. TIN helps in processing of PAN cards which need to be issued, in TAN processing, in acceptance of 24G forms, AIR forms and TDS/TCS return forms which are physically or electronically filed. |
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