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Scheme for Collection of Dues of Financial Year 2015-16

Income Tax - DGBA.GAD.NO. 2968/42.01.029/2015-16 - Dated:- 17-3-2016 - CIRCULAR DGBA.GAD.NO. 2968/42.01.029/2015-16 DATED 17-3-2016 Please refer to Circular DGBA.GAD.No.4285/42.01.029/2014-15 dated March 25, 2015 advising the procedure to be followed for reporting and accounting of collection of Direct Taxes (CBDT) and Indirect Taxes (CBEC) and transactions of Departmentalized Ministries at the Receiving/Nodal/Focal Point branches of your bank for the Financial Year 2014-15. 2. The Government of .....

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on challans/scrolls etc. to the Nodal/Focal Point branches so that all payments and collections made on behalf of government towards the end of March are accounted for in the same financial year. 4. As regards reporting of March 2016 transactions by Nodal/Focal Point branches in April, the branches may be advised to follow the procedure as outlined in the Annex. To sum up, the Nodal/Focal Point branches will be required to prepare separate sets of scrolls, one pertaining to March Residual Trans .....

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t be mixed up with "March Residual Transactions." 5. The procedure now followed for reporting and accounting of transactions of Non- Civil Ministries viz. Defence, Posts, Railways and Telecommunications (which was revised with effect from October 1, 1993), is similar to the procedure for reporting and accounting of transactions of Departmentalised Ministries. The special arrangements for reporting March transactions by receiving branches to Nodal/Focal Point branches and the procedure .....

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, the Nodal/Focal Point branches will segregate on a daily basis all scrolls/challans pertaining to March 2016 received from the receiving branches concerned and prepare separate main scrolls for: (a) scrolls for transactions of March 2016 or earlier period (i.e. effected during the previous financial year 2015-16) and (b) scrolls pertaining to current transactions (i.e. those effected from April 1, 2016 onwards). 2. The main scrolls for March 2016 transactions prepared from April 1 to April 10, .....

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and Designated Officers) in the usual way. The Nodal/Focal Point branches will also be required to report the above transactions to the Link Cell through separate Daily Memos. These advices must be sent to enable the Link Cell of each bank at Nagpur, to make daily settlement with Reserve Bank of India, Central Accounts Section (CAS) Nagpur. On receipt of advices from the Nodal/Focal Point branches, the Link Cell should segregate the advices for the March Residual transactions and forward them s .....

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