Finance Act, 2005 : Changes in major head and challans-OLTAS

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....nking cash transactions tax. Consequently, certain changes/rationalization have been made to major heads and sub-minor head of accounts by Income-tax Department as under : I. Challan No. ITNS 280 The Challan is for the payment of the two major heads i.e. (a) 0020 Income-tax on Companies (Corporation Tax) and (b) 0021 Income-tax (other than companies). It should now be possible for taxpayers to....

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....inor-Head-400). The new 3 digit codes sub-minor heads now introduced in the challan are as under : Section Nature of payment Code 206C Collection at source from alcoholic liquor for human consumption 6CA 206C Collection at source from timber obtained under Forest lease 6CB 206C Collection at source from timber obtained by any mode other than a forest lease 6CC 206C Collection at s....