NEFT and RTGS services of the banks can continue up to midnight.
The development by the central bank is against the backdrop to account for all the government transactions in the same financial year.
The Reserve Bank Of India has ordered agency Banks to remain open till March 31, 2023, for annual closing. In its notification, RBI has directed lenders to report government transactions for the fiscal year 2022–2023 until March 31, 2023. To record and account for government transactions as of March 31, 2023, the following arrangements have been made. The Reserve Bank Of India, in its letter, wrote, “Accordingly, all agency banks should keep their designated branches open for over-the-counter transactions related to government transactions up to the normal working hours on March 31, 2023″.
The National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions can continue up to midnight as hitherto on March 31, 2023, the bank said. The Department of Payment and Settlement Systems (DPSS), under RBI, will give pertinent instructions for the special clearing of government cheques. The reporting window to upload central and state government transactions to RBI including uploading of GST or TIN2.0 e-receipts luggage files will remain open on March 31, 2023, till noon on April 1, 2023.
Some bank branches may remain on March 30 due to Ram Navami. You can connect with customer care of the particular bank or can check the official website of the respective banks. Apart from this, March 31, 2023, is the last date for Indian citizens to link their Aadhaar with their permanent account number. Failing may make the PAN card inoperative after the aforementioned date.
Taxpayers, who connect the two after the deadline are liable for a fine of Rs 1,000. You could do this by paying the sum under Challan Number ITNS 280 with Major Head 0021 (Income Tax Other Than Companies) and Minor Head 500 on the National Securities Depository Limited (NSDL) website. (Other Receipts).
Although income tax returns can be submitted without linking the two, the department does not process the returns until PAN and Aadhaar are linked.
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