New Delhi: All banks receiving government payments including taxes have been asked by RBI to keep the counters conducting government banking open up to 8pm on March 31, 2018 in a directive issued today.
Further, all electronic transactions including RTGS and NEFT, for government payments will continue till midnight on March 31, 2018. According to the RBI circular issued today, all government transactions with banks for financial year 2017-18 must be accounted for within the same financial year.
Accordingly, RBI has instructed agency banks to make special arrangements for this purpose. All agency banks have been asked to keep the counters of their designated branches conducting government banking open for government transactions up to 8.00 pm on March 31, 2018.
This is because the last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is March 31, 2018.