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What is BSR Code ?

BSR Code is the short form of BASIC STATISTICAL RETURNS. BSR Code is entered when filling TDS/TCS Returns challan.

BSR Code is a 7 digit code allotted by Reserve bank of India to the Banks in India. BSR Code is different from other codes like Branch code, IFSC code etc. This code is used only in TDS/TCS Challan form only. BSR Code consists of seven digits code in which first three digits are for identification of the bank and the last four digits are for identification of the branch. BSR code helps the bank to keep record of every online payment done for tax and this record helps the income tax department to receive the information about the payments through banks.

Basic Statistical Returns is a system which integrates the data of TDS/TCS returns in various commercial banks and promotes the filling of the return with RBI at regular intervals. BSR code is generaly found on the TDS certificates. It is mandatory to quote the BSR code both in challan details and in the deduct details. BSR codes are used in CIN (Challan Identification Number) which will be unique for each challan and are used for identifying challan in the OLATS(Online tax accounting system). Challan Identification Number (CIN) is a 20 digit unique identifier number provided on the Taxpayer’s Counterfoil.

BSR Code

BSR Code Classification

BSR1: Return on Advances from all branches on the last Friday of June and December. It’s divided into two parts – Part I which deals with accounts with limits more than Rs. 10,000 and Part II which deals with accounts limits of Rs.10,000 and less.
BSR2: Return Deposits from all branches on the last Friday of June and December.
BSR3: Return Advances against the Security of Selected Sensitive Commodities from Head Offices on last Friday of each month.
BSR4: Return on Ownership of Bank Deposits (once in two years) from all branches (replacing present annual survey from head offices) on the last Friday of March.
BSR5: Return on Bank Investments (annual) from Head Office (on the lines of Survey of Bank Investments) on the last day of March.
BSR6: Survey on Debits to Deposits Accounts (Quinquennial) from April to March of the year.
BSR7: Survey on Aggregate Deposits and Gross Bank Credit (Quarterly) by head offices of the bank as on last Friday of June, September and December, and as on March 31.

What is OLTAS?

OLTAS is the short of Online Tax Accounting System. It is maintained by Income Tax Department of India. OLTAS maintain the records of Income Tax returns paid through online in different banks. The tax collecting bank branch will put a rubber stamp on the challan and its counterfoil indicating the CIN (Challan Identification Number). The CIN will be unique for each challan throughout the country and will be used for identifying the challan in the OLTAS. By conmibing the CIN and BSR Code the Income Tax Department get the full information of online tax payment from which bank, branch, date and challan where the tax is collected.

List of Banks with BSR Code