CHAPTER 15
BANK RECONCILIATION- REVENUE TRANSACTIONS OF CBDT.

15.1    The departmentalisation of the accounts of the revenue transactions of the CBDT came into effect from 1st April, 1977. The operation of the scheme for collection and accountal of Direct Taxes introduced from 1st April, 1977 revealed certain shortcomings viz. (i) considerable delay on part of the banks in transferring direct tax collection to Govt. account at RBI, CAS, Nagpur, (ii) delay in transmission of scrolls/challans etc. to Z.A.Os. and Income Tax Department and (iii) delay in reconciliation of direct tax collections made at the Banks with the figures accounted for by the ZAOs and in the final reconciliation between the figures of the CCA, CBDT and those reported by the RBI, CAS, Nagpur. The procedure of collection and accountal of direct taxes was, therefore, reviewed and a revised scheme introduced from 1st October, 1988. IQ Option www.iqoption.or.kr/ 한국

15.2    The basic feature of the revised scheme introduced w.e.f. 1.10.88 is that with a view to expedite transmission of documents to ZAO & I.T. Deptt. and remittance of collecting to Govt. account, several intermediary stages between the Receiving branch and the RBI, CAS, Nagpur namely link branch, Focal Point branch, SBI, UMALO, New Delhi and RBI New Delhi existing before 1.10.88 have been eliminated. Now each of the authorised public sector bank will have a Nodal branch at the ZAO centre which will function as a Focal Point branch for all the authorised receiving branches of that bank at that centre. Nodal branch in addition to acting as a pooling point may also function as a receiving branch. In the zones where a bank has less than 5 branches, no Nodal branch of that bank needs to be set up at ZAO Centre. In such cases the branches will function as sub-agent to SBI for reporting, remittance and reconciliation of direct taxes. The receiving branches of a bank in a particular zone will report the transactions as well as submit the sets of documents (scrolls/challans) meant for ZAO and the Designated Officer in-charge of the Computer Centre/CTU of Income Tax Department direct to their respective Nodal branch at the concerned ZAO centre. The branches functioning as sub-agent to SBI will report the transactions to the Nodal branch of SBI in that Zone. Existing Annexure 1 & 2 Have been deducted to avoid numerous correction slips in connection with frequent addition/deletion/change of CITs/nominated banks. Therefore, Annexure-3 have been renumbered as Annexure 1 and so on.

15.3    The branch exercises the prescribed checks while accepting the receipts with the prescribed challans. The receiving branch prepares on daily basis the scrolls in quadruplicate, in the prescribed form (Annexure 1), separately for each major head of account, giving them running serial numbers extending over the financial year i.e. 1st April to 31st March with a prefix like I.T. for Income Tax, C.T. for Corporation Tax, etc. The receiving branch also prepares a summary of receipts in the prescribed form (Annexure 3). Thereafter, the scrolls/challans and summary are made into sets as under:-

(i)    One set contains the original of the receipts scrolls, accompanied by the relative challans arranged in the serial order in which they are entered in the scrolls. This set is meant for the Designated Officer of the I.T Department.

(ii)    A second set similarly made containing the duplicate copies is intended for the Zonal Accounts Officer.

(iii)    A third set contains the triplicate copies of the scrolls (without challans), and the summary, for the record of the Nodal branch.

15.4    At the commencement of each working day, the receiving branches forward to their Nodal branches all the three sets (mentioned above), pertaining to the receipts of the previous working day. The branches acting as sub-agents of the SBI send the three sets of documents, along with a Bank draft (payable at SBI’s Nodal branch at ZAO centre concerned) for the total amount of tax collected as reflected in the scrolls, to the Nodal branches of SBI on day to day basis.

15.5    The branches of the banks which are authorised to make refunds, prepare refund scroll, Major head wise, in the prescribed form (Annexure 2). As in the case of receipts, a summary in prescribed form (Annexure 3) is also prepared. Three sets of documents are prepared as in the case of receipts. The set meant for the Designated Officer will contain (i) scroll of paying branch: (ii) Advise Notes (for refunds of Rs. 1000/ and above) and (iii) paid Income Tax Refund Orders (upto Rs. 999/-). The set meant for ZAO will contain (i) scroll of paying branch, (ii) paid Income tax Refund Orders (in both cases viz., for refunds upto Rs. 999/- and for Rs. 1000/= and above). One copy of the Advice Note will be retained by the paying branch. All the three sets of documents are sent to the Nodal branch on day to day basis.

15.6    The Nodal branch follows the same procedure as indicated in Para 15.4 and 15.5 above for tax collections and refunds made at its own counter. These scrolls are, however, prepared in triplicate only as no additional copy is required for its record.

15.7    On receipt of the three sets of documents, the Nodal branch will take following action on day to day basis:-

(i)    Check the amount of remittances received by it through the inter-bank account and ascertain that it tallies with the deposits made by the assessees as per challans.

(ii)    check the scrolls and supporting documents i.e. challans/ITROS/Advice Notes etc. to see that their amounts tally with each other;

(iii)    check that the scrolls are in serial order by referring to the number of the previous scroll received;

(iv)    consolidate and stitch, Designated Officer-wise and major head-wise two copies of scrolls/challans (including its own) separately for Receipts and Refunds.

(v)    Consolidate the copies of the scrolls (without supporting documents) including its own, Designated Officer-wise/major head-wise, separately for Receipts and Refunds and retain the set for its record.

15.8    The Nodal Branch will prepare daily the Main Scroll in triplicate, Designated Officer-wise and major head-wise in the prescribed forms, separately for receipts and refunds (Annexure 4 and 5) respectively giving a running serial number extending over a financial year. One set of the consolidated scrolls, including a copy of the Main Scroll, together with challans/refund documents, as mentioned in Para-15.5, will be sent to the ZAO concerned on a day to day basis. Another set containing the challans marked ‘original’ and intended for the Income Tax Department will be sent to the concerned Designated Officer bi-weekly i.e. on Mondays and Thursdays and if they happen to be holidays, on the succeeding working day. In the case of local Designated Officers, it is however, to be sent on day to day basis.

15.9    The Nodal Branch will record a certificate on the Main Scrolls (sent to the ZAO/DO) to the effect that necessary advice has been sent to the Link Cell of the (same) Bank at Nagpur/SBI, GAD Mumbai (in the case of SBI’s Nodal branch) on (date) for crediting the amount to the account of the CBDT.

Note:    If the Designated Officer is not locally situated (in case where two or more Dos/Computer Centers are there in a Zone) all the above documents should invariably be sent by Registered Posts.

15.10    During first 25 days in April every year, the Nodal Branches will prepare two separate sets of scroll one pertaining to the March transactions which means cheques/drafts/ITROs tendered and cleared up to 31st March by receiving branches and scrolls of the same sent to the Nodal Branch subsequent to 31st March but before 25th April will be scrolled by Nodal Branch as “March Residual Account” and intimate link Cell at Nagpur for inclusion in March transactions and another for April transactions prominently indicating the month of Account, to enable the ZAO to adjust the March residual transactions in March (Sy) accounts and April transactions in the next financial year. Any cheque/draft tendered on or before 31st March and realised on or after 1st April, by bank will be treated as transaction for the next financial year.

15.11    The Nodal branch shall maintain a register to record the daily receipts and refunds reported to it by the receiving branches under the various major heads of accounts. The register shall be posted from the daily Main Scrolls and will be in the form given in Annexure 6. This register is maintained in perforated form and two copies thereof shall be furnished by the Nodal branch to the concerned ZAO, along with other documents such as scrolls, challans, main scroll, etc., after ensuring their correctness.

15.12    For the purpose of monthly reconciliation, the Nodal branches of the Public Sector Banks prepare in the first week of the following month, ZAO-wise, Tax head wise monthly statements (commonly known as Datewise Monthly Statement i.e. DMS) in quadruplicate (separately for receipts and refunds) in the form given in Annexure 7 and 8 respectively indicating date-wise position reported to ZAOs through daily Main Scrolls. Three copies of it are sent to the ZAOs.

15.13    On the basis of the entries appearing in the register maintained as per Annexure 6 the Nodal branch will prepare a daily memo and send it on a daily basis to its Link Cell at Nagpur, which will make daily settlement with the RBI, C.A.S., Nagpur. If the net amount is Rupees one lakh and above the advise is to be sent by Telex/Telegram. In the case of wrong reporting on any day, the Nodal branch will send an Amendment statement in the prescribed form (Annexure 9) to the Link Cell, for reporting to the CAS, Nagpur.

Note:    In case of the SBI, the reports will be sent to the SBI, GAD, Mumbai, which will consolidate them and carry out monetary settlement with the RBI, C.A.S., Nagpur.

15.14    The Nodal Branch will furnish a monthly certificate latest by the last day of the following month to the concerned ZAO certifying that no amount of tax collection made in (name of the month) is lying either in arrears with the receiving branches under its control or in the pipeline somewhere between it and the receiving branch. This would ensure the reconciliation of figures with the ZAO on current/perpetual basis and avoid accumulation of reconciliation arrears. In rare cases, if Nodal bank fails in furnishing the monthly certificate to the ZAO the Nodal bank will make concerted efforts to reconcile the figures at the earliest possible and to submit a certificate of reconciliation to the ZAO.

15.15    All 14 the RBI offices will continue to attend to the work relating to receipts/refunds of direct taxes and will also act as Nodal branch for their own transactions. In Bombay, the RBI, Fort branch will act as the Nodal branch for its own transactions as well as for those of Byculla Office.

15.16    Under the Income Tax Rules, Personal Deposit Accounts are maintained with the specified branches of the SBI or the RBI offices, for depositing money seized from persons suspected to have evaded tax. Tax amount in the P.D. Account is transferred to the RBI, CAS, Nagpur on day-to-day basis for credit to the Government Account and the balance in this accounts is only a notional balance. The delay in transferring the amounts under the Personal Deposit Account to the Government account will attract penal interest at the same rate as in case of delayed remittance of direct tax collections to Govt. account. Repayments are also made from this account by the P.D. Account holder by issuing cheques which are supplied by the ZAO. Separate receipt and payment scrolls are prepared and sent to the ZAO (along with paid cheques/challans). Copies of the scrolls are sent to the account holder. The bank maintaining the P.D. Account, prepares, at the end of every month, a monthly statement showing (i) Opening balance; (ii) total receipts; (iii) total payments; and (iv) closing balance. Three copies of the statements are sent to the ZAO and one copy is sent to the Account holder by the 5th of the following month. (No copy of the scroll/statement is sent to the Designated Officers). The ZAO verifies the statement with reference to the receipts and payments scrolls and returns one copy to the Bank (after recording the certificate of verification thereon over his signature). The receipts and payments as per scrolls are booked by the ZAO under the head '8443-Civil Deposits-Personal Deposits' by contra debit/credit to the head '8658 Suspense Accounts-Public Sector Bank Suspense'. In the case of transactions arising at RBI Offices the contra adjustments are made under the head '8675-Deposits with Reserve Bank'. The head PSB Suspense is cleared on receipt of the monthly account from the RBI, CAS, Nagpur, by the office of the C.C.A., by per contra adjustment under the major head '8675-Deposits with Reserve Bank'. However, only the net effect under '8675-Deposits with Reserve Bank' will be posted as debit/minus debit in the Revenue Account (depending upon whether the net receipts are more or less than the refunds).

15.17    In the case of any errors/discrepancies in respect of receipts/refunds of direct taxes, the concerned receiving branches will rectify them through Error Scrolls.

15.18    DESIGNATED OFFICER

15.18.1    After the necessary checks are exercised, the Daily Main Scrolls received from the Nodal branches are entered in Registers in the Form given in CAM 83. These are opened Nodal branch wise separately for Receipts and Refunds. Thereafter a monthly total is struck major-head wise. The totals are cross-tallied. Besides this, a monthly summary is prepared in a Register in the form given in CAM 84. In this Register the monthly figures of Receipts and Refunds of all Nodal branches are noted major-headwise, and the final total is struck. This gives the Designated Officer, the figures of Receipts/Refunds major-headwise, for compilation of monthly headwise account.

15.18.2    The Designate Officer gets Monthly Statement i. e. perforated copies of the Register (CAM 86), in the first week of the following month from the ZAO. The Designated Officer verifies the Statement with reference to the entries made in the Register (CAM 83). He points out the differences, if any, to the ZAO through a letter in the prescribed form as given in CAM 85 within 5 days of the receipt of the Statement. The scrolls, challans/refund order or Refund advice Notes, which are included in the Main Scroll, but are not received, are obtained by the Designated Officer from the Nodal branch under intimation to the ZAO. The total amount of such items is kept under Suspense Account. The amount under suspense shall be cleared on receipt of the Scrolls, etc., from the Nodal branch.

15.19    ZONAL ACCOUNTS OFFICE

15.19.1    The Daily Main Scrolls are entered Designated Office-wise in a Register being opened for each Nodal branch, separately for receipts and refunds (in the form given in CAM 86). Every month, separate folios are allotted to each Designated Officer and posting is done major head-wise. One page is allotted each month for recording date-wise and major head-wise figures consolidated for all the Designated Officers who are linked to the ZAO. This page is called the 'Monthly Abstract Page'. The entries in the Abstract page should tally with the major head-wise totals of the Daily Summary of Receipts/Refunds (Annexure 6) received along with the Daily Main Scrolls from the Nodal branch. This register has one fixed page and one perforated page alternately. The posting in the register is done by using carbon paper so that carbon entry appears on the perforated page. At the end of the month the totals thereof are struck and cross tallied with the totals of the Monthly Abstract page, by the 3rd working day of the following month. The perforated pages are thereafter detached from the register and sent to the Designated Officer concerned, for necessary verification. In response, the Designated Officer sends to the ZAO a letter of observations in the prescribed from as given in CAM 85. The ZAO keeps a watch on the receipt of this letter from the Designated Officer.

15.19.2    After the totals of various pages of the register in CAM 86 are struck and cross tallied with the totals of the Monthly Abstract page, a Designated Officer-wise monthly summary is prepared in a separate register in the form given in CAM 87. In this monthly summary, the monthly major head-wise figures of receipts and refunds of the various Nodal branches for each Designated Officer (available in the Register in CAM 85) are clubbed to enable the ZAO to arrive at the amounts major head-wise for which detailed accounts are to be furnished by each Designated Officer.

15.19.3    The consolidated monthly figures available in Register (CAM 86), Nodal branch wise, are taken to the Classified Abstract, for preparation of the major head wise account. The amounts are initially booked under the minor head 'Receipts Awaiting Transfer to other minor head etc.' (RAT) under the relevant revenue major head by contra debit to the head 'PSB Suspense', when they relate to Nodal branches of the PS Banks including SBI and to '8675- Deposits with Reserve Bank ' Central Civil- Reserve Bank (H.Q) when they relate to RBI’s Nodal branch. This PSB Suspense head is cleared by adjustment under the head '8675 Deposits with Reserve Bank' on receipt of Monthly Closing Balance Statement (CAS 121 and 122) or Monthly Settlement Statement (DMA II) from the RBI, CAS, Nagpur in CCAs Office. The head 'RAT' is cleared by the ZAO by minus credit to the extent of Detailed Account is received, from the Designated Officer and by credit to the relevant minor/sub-heads etc. The ZAO keeps a close watch over the receipt of these Detailed Accounts from the Designated Officers.

15.19.4    The daily main scrolls and the daily summary of receipts and payments, received from the Nodal branch should be checked on day to day basis before they are posted in the Register (CAM 86).

This checking should be done to see that:

(a)    the serial numbers of the main scrolls and those of the receiving branches are in consecutive order for the financial year;

(b)    the entries in the scrolls tally with the amounts of the challans/refund orders of the prescribed certificate (s)of the Bank, and no challan/refund order or prescribed certificate of the nodal branch is missing;

(c)    the totals of the daily scrolls of all the receiving branches attached to the daily main scrolls are correct;

(d)    the total of the daily scrolls of the receiving branch, has been correctly carried over to the daily main scroll prepared Designated Officer-wise by the Nodal branch;

(e)    the total of the daily main scrolls is correct;

(f)    the total of the daily main scrolls is correctly carried over to the daily summary of receipts and payments; and

(g)    the total of the daily summary of receipts and payments is correct.

15.19.5    Whenever error/omission/discrepancy is noticed, it should be taken up with the Nodal branches through personal contacts, on day to day basis, for necessary rectification. Whenever the requisite rectification is not done, or is not found to be feasible for some unavoidable reasons (which should be rare), the matter could be taken up through correspondence and followed up with the Nodal branch.

15.19.6    On receipt of three copies of the Analysis of the Transactions relating to CBDT, separately for ‘Receipts and ‘Refunds’ commonly known as Date wise Monthly Statement of DMS- from the Nodal branches (as mentioned earlier in Para 15.12), the ZAO takes action as under:-

(a)    Compares the figures appearing in the DMS with the figures compiled in the Monthly Abstract page of the Register (CAM 86).

(b)    In case no discrepancy is noticed, the ZAO verifies the DMS over his signatures recording the total of the DMS in words and figures and indicates, against each entry the month of adjustment in the account. One copy of the DMS, duly verified, is returned to the Nodal branch within two weeks of its receipt. The second copy is deposited with the JAO/AAO (Receipts) for safe custody, and the third copy is utilised as working office copy.

(c)    In the case of any discrepancy noticed in the DMS, the ZAO takes up the matter with the Nodal branch, by personal contact, within two weeks of its receipt. In the rare event of the discrepancy not being settled by personal contact, the matter is taken up through correspondence and meetings.

15.19.7    If the discrepancy is not settled within 2 months of the receipts of the DMS in question, it is returned to the Nodal branch concerned immediately on the expiry of two months, in the following manner:-

(a)    In the DMS for refunds the figures which are not acceptable to the ZAO are encircled and correct acceptable figures are written over them in red ink. The revised totals of the DMS are worked out and shown in red, and verification recorded for the correct acceptable amount. The DMS is thereafter dealt with as stated above in (b) 15.19 (6).

(b)    In the case of DMS relating to 'Receipts' if the amount as per Main scrolls is more than the one shown in the DMS, it will be dealt with in the manner indicated at (a) above in DMS for Refunds.

(c)    In case the amount as per DMS is more than the total compiled by the ZAO from the Main Scrolls, the DMS is dealt with as stated in (b) above and the difference is adjusted/credited under '8658-Suspense Accounts-Suspense Account (Civil) ' Challans/Vouchers Suspense' by contra debit under the head 'PSB Suspense', if the DMS pertains to a Public Sector bank including SBI Nodal branch and under the head '8675-Deposit with Reserve Bank ' Central Civil - Reserve Bank (HQ), if the DMS pertains to RBI’s Nodal branch. The matter is pursued with the Nodal branch for the receipt scrolls, until it is finalised as under:-

(i)    If the scroll dully supported by challans, is furnished by the bank, the head 'Challans/Voucher Suspense' is cleared by a minus entry and by credit under "RAT" under the relevant major head, pending transfer to the relevant minor head on receipt of the detailed account from the Designated Officer.

(ii)    If the difference does not relate to CBDT and is withdrawn by the Bank, the amounts already credited/debited to the heads 'Challans/Vouchers Suspense' and 'PSB Suspense' or Reserve Bank Deposits are reversed.

Note (1)    The DMS should be verified and returned within two weeks of its receipt. In case of discrepancies however, two months is the maximum period within which the DMS should be verified and returned as stated above.

Note (2)    The ZAO should take into account the observation of the Designated Officer, sent in the prescribed letter form (CAM 85) ( Refer Para 15.17.2 above).

Note (3)    In case the Nodal branch does not send the DMS in the first week of the following month, the matter should be taken up with Bank through personal contacts. In case personal contacts do not yield the desired results, the matter should be taken up through correspondence and meetings. If the DMS is not received by the end of the month following the month to which it pertains, the matter should be taken up at a higher level.

15.19.8    The Z.A.O. gets a computerised ‘put through’ statement Nodal branch-wise, major head of account wise, and transaction date wise (Statement No. 1 in the form given in Annexure 10) from the RBI, CAS, Nagpur for the purpose of reconciliation of the transactions settled in respect of each Nodal branch. The ZAO compares the items in this statement with the copy of the verified DMS of the nodal branch available in his office. Discrepancies, if any, in the remittances etc., are settled by the ZAO with the Nodal branch through personal contacts. In case the personal contacts do not prove fruitful, the matter should be taken up through correspondence and meetings with the Banks. In case of any difficulty, the matter may be reported to Dy. Controller of Accounts Incharge for taking up the case at a higher level of the bank concerned. If still success is not achieved within a reasonable time, the matter may be reported to Headquarters (Principal CCA’s Office) for taking up the matter with the Head Office of the Bank.

15.19.9    ZAO should prepare a monthly Bank Reconciliation Report immediately on receipt of a copy of RBI’s statement No. 2 (Annexure 11) from Principal Accounts Office, showing therein the nodal branch-wise figures as per RBI’s Statement No. 2 and those accounted for by the ZAO in the accounts and difference (for the month and the progressive difference) in the form as per CAM 88. Bank wise and date wise break-up of the progressive difference should be given in this report indicating also the action taken to settle this difference. This Reconciliation Report is to be prepared separately for receipts and refunds and sent to the Principal Accounts Office within 3 days of the receipt of the copy of RBI’s Statement No. 2.

15.19.10    All challans should be scrutinised to detect cases of delays in the remittance beyond maximum period of 5 days in case of local branches and 9 days in case of outstation branches. These delays should be investigated to ascertain whether these have occurred at the receiving branch or the Nodal Branch of the Bank. A record of all such cases of delayed remittance should be kept in the Zonal Accounts Office in a register in the prescribed form. Matter should be taken up with the Bank for suitable remedial action to prevent such delays in future. Further, the penal interest is chargeable on (i) all transactions not remitted to the Government account with in a period of month and (ii) the transactions of Rs. 10 lacs and above not remitted to the Government account with in a period of 15 days. The period for the above purpose will be counted form the date of receipt of the collections at the receiving branch till the date prior to settlement with RBI, CAS, Nagpur for credit to Government Account through the bank’s link cell at Nagpur. ZAOs will identify such cases and impose the penal interest on Banks at their level itself and make efforts to recover penal interest. Monthly reports, as may be prescribed by the Pr. Accounts Office, will be sent by the ZAO to the Pr. Accounts Office by prescribed date for further monitoring and taking up the matter with the higher authorities of the banks wherever necessary. However, the cases of Rs. One crore and above delayed beyond 15 days will be processed by the Pr. Accounts Office and taken up with the banks for recovery of penal interest. ZAOs should report all such cases to Pr. Accounts Office. While detecting delayed remittance cases and imposing penal interest the instructions contained in CGA’s circular letter No. S-11012/3/84/RBD/1144-1193 dated 21.12.84 as amended from time to time will have to be kept in view

15.19.11    The head ‘PSB Suspense’ will continue to be cleared in the CCA’s office, on the basis of monthly computerised 'put through statement' received from RBI, CAS, Nagpur. A copy/extract of the put through statement (ZAO wise, head of account wise) received from CAS, Nagpur is sent to the ZAO by the CCA’s office, for checking/verification and settling discrepancies, if any, with the Nodal branch.

15.19.12    The ZAO should maintain the Broadsheet of 'PSB Suspense' showing therein the amount booked as per the accounts. The amount as per copy of the ‘Monthly Put Through Statement’ received from CCA’s office, is shown as clearance, and the closing balance/balance outstanding is worked out. Prompt action should be taken by the ZAO for getting the old outstanding amounts settled by the Nodal branch. Transactions which remained outstanding under the ‘PSB Suspense’ for more than two months may be considered as old outstanding items. The ZAO will also maintain age-wise analysis of balance outstanding under ‘PSB Suspense’ in the form prescribed for Abstract in form CAM 26.

15.20    PRINCIPAL ACCOUNTS OFFICE

15.20.1    The RBI, CAS, Nagpur sends every month the following four computerised ‘put through statements’ to the C.C.A. C.B.D.T. :

(a)    Statement No. 2 Major headwise summary of transactions (Receipts, Refunds net for the month separately for each ZAO (2 copies) in the form given in Annexure 11).

(b)    Statement No. 3 Nodal branchwise, Head of account wise (with sub-totals at Nodal branch level) and grand total for the ZAO separately for each Z.A.O. one copy in the form as per Annexure 12).

(c)    Statement NO. 4 Bankwise and Head of Account wise with grand total for CBDT (one copy) in the form as per Annexure 13.

(d)    Statement No. 5 Head of Account-wise summary of transactions for CBDT as a whole (one copy) in the form as per Annexure 14.

15.20.2    The grand total of statement No. 5 is tallied with the grand total of the Bank-wise Statement No. 4. The grand total of Statement No. 3 of all the ZAO is worked out and tallied with the total of Statement No. 4. Totals of Statement No. 2 are tallied with those of Statement No. 3.

15.20.3    The total receipt is adjusted as minus debit to the head PSB Suspense and total refunds as minus credit to 'PSB Suspense' and the net total is adjusted as debit/credit to ‘8675 Deposits with Reserve Bank ' Central Civil Reserve Bank (PSB). This TE is included in the Monthly account of the ZAO New Delhi.

15.20.4    After carrying out adjustment under 'PSB Suspense' etc. one copy of the Statement No. 2 is sent to the concerned Z.A.O. for further verification and preparation of the Broadsheet of 'PSB Suspense'.

15.20.5    The Pr. CCA,CBDT will submit a consolidated quarterly report of delayed remittances to C.G.A. The rate of penal interest on delayed remittance will vary from quarter to quarter and will be based on the average of the cut- off rates for 91 days auction treasury bills during the previous quarter. The rate will be communicated by RBI every quarter to the CGA who will communicate the same to all Ministries/Departments

ANNXURE 1
(Vide Para 15.3)

RECEIPT SCROLL, INCOME & OTHER DIRECT TAXES

Name of the Bank Code No. Station: Serial No. ___________/________
Code No. Date:
Major Head of Account.

ZAO ________________ ZAO Code No.

D.O. ___________________
D.O. Code No._______________

 

Sr. No.

Name of the assessee

Cash 

Clg.

Transfer 

Total 

Initials

Remark

Rs.  P. Rs  P. Rs  P. Rs  P.

 

 

Total

ANNEXURE 2
(Vide Para 15.5)

PAYMENT SCROLL - INCOME AND DIRECT TAXES

Name of the Bank Code No. ........... Station: Serial No. ___________/________
Branch Code No. Date: ..............
DO DO CODE NO._________

ZAO ________________ 

ZAO Code No. ___________ Major Head of Account.

 

Sr. No.

I.T.R.O. No.

Name of the assessee

Cash 

Clg. 

Transfer 

Total 

Initials

Remark

Rs.  P. Rs.  P. Rs.  p. Rs.  P

 

 

 

Total

 

SCROLL TO BE PPREPARED BY EACH PAYING BRANCH

ANNEXURE 3
(Vide para 15.3)

DAILY SUMMARY

Name of the Zonal Accounts Officer …………….  Code No. .....................
Name of the Designated Officer…………………… Code No......................

Date :

 

Major Head of Account

Receipt Rs.

Payment Rs.

0020

   
0021    
0024    
0028    
0031    
0032    
0033    

Total

   

Note: i)    To be prepared by paying branch separately for each Designated Officer

ii)    If there is no payment under any head of account ‘NIL’ may be recorded against that item..

ANNEXURE 4
(Vide Para 15.8)

RECEIPT SCROLL (MAIN)

Name of the Bank ..................... Code No. ............ Station: .............. Serial No. ___________/________
Normal Branch:.............. Code No............... Date:........................
DO ................. DO CODE NO. ................. Major Head of Account.

ZAO_____________ 

ZAO CODE NO. ___________________

 

Sr.No.

Name of Receiving 
Branch

Code No.

Date of Receiving Branch Scroll

Amount Rs. P.

Initials

Remarks

 

A

B

C

..

.. 

Nodal Branch’s Own Collections

         
 

Total

         

ANNEXURE 5
(Vide Para 15.8)

PAYMENT SCROLL (MAIN)

Name of the Bank ........................ Code No. ................. Station: ................ Serial No. ___________/________
Nodal Branch:.............. Code No. .................. Date: ....................
DO ............. DO CODE NO. .............. Major Head of Account.

ZAO ________________ 

ZAO CODE NO.___________________

 

Sr.No.

Name of Receing 
Branch

Code No.

Date of Paying Branch Scroll

Amount Rs. P.

Initials

Remarks

 

A

B

C

..

..

Nodal Branch’s Own Payments

         
 

Total

         

ANNEXURE 6
(Vide Para 15.11 & 15.13)

DAILY SUMMARY OF RECEIPTS AND PAYMENTS ADJUSTED BY THE NODAL BRANCH IN GOVERNMENT ACCOUNT

ZAO ………………………………………………………………………….

ZAO Code No.____________________________-

Date …………….. 

Major Heads of Account.

Name of D.Os

0020

0021

0024

0028

0031

0032

0033

Total

 

Rece
ipts

Pay
ments

Net

Rec
eipts

Paym
ents

Net

Rece
ipts

Paym
ents

Net

Rece
ipts

Paym
ents

Net

Rec
eipts

Paym
ents

Net

Rece
ipts

Pay
ments

Net

Rece
ipts

Paym
ents

Net

Rec
eipts

Pay
ments

Net

1

2

3

4

5

6

7

8

9

               
2                
3                
4                
5                
6                

Total

               

Note :    The register will be maintained in perforate form.
Two copies of the Daily Summary Sheets to be furnished to ZAO 

Branch Manager

ANNEXURE 7
(Vide Para 15.12)

ANALYSIS OF THE TRANSACTIONS RELATING TO THE CENTRAL BOARD OF DIRECT TAXES FOR THE MONTH OF __________________

Name of Nodal Brach Code No. …………….  Code No. .......................
ZAO…………………… Code No. .......................

RECEIPTS

Major Heads of Accounts

Date

0020 Corpn. Tax

0021 Taxes on Income Other than Corpn Tax

0024 Interest Tax

0028 Other Taxes on Income and Expenditure

0031 Estate Duty

0032 Taxes on Wealth

0033 Gift Tax

Total

               
2                
3                
4                
5                
6                
..                
..                
31                

Total

               

Note: 1.    A statement in this form should be prepared in four copies.
2.    Three copies should be furnished to the Zonal Accounts Officer, Central Board of Direct Taxes and the fourth copy retained as office copy.

Date …………….. 

BRANCH MANAGER

ANNEXURE 8
(Vide Para 15.12)

ANALYSIS OF THE TRANSACTIONS RELATING TO THE CENTRAL BOARD OF DIRECT TAXES FOR THE MONTH OF __________________

Name of Nodal Brach  …………….  Code No. .................
ZAO…………………… Code No. ................

REFUNDS

Major Heads of Accounts

Date

0020 Corpn Tax

0021 Taxes on Income Other than Corpn Tax

0024 Interest Tax

0028 Other Taxes on Income and Expenditure

0031 Estate Duty

0032 Taxes on Wealth

0033 Gift Tax

Total

1

2

3

4

5

6

..

..

31

               

Total

               

Note: 1.    A statement in this form should be prepared in four copies.
2.     Three copies should be furnished to the Zonal Accounts Officer, Central Board of Direct Taxes and the fourth copy retained as office copy.

Date …………….. 

BRANCH MANAGER

ANNEXURE 9
(Vide Para 15.13)

TRANSACTIONS ON ACCOUNT OF CBDT
AMENDMENT STATEMENT
RECEIPTS(O)/DISBURSEMENTS(1)

STMT NO.. ............... STATMENT DATE .............. BANK CODE ...................

Please amend the entries as under:

Sr. No

Name of Branch

Branch Code

ZAO Code

Transaction date (DD/MM/YY)

Month of Account*
(M M/ Y Y)

Head of Account

Original Amount 

Amended amount 

Name Code Rs. P. Rs.  P.
                   

Note :   Separate statements should be used for Receipt and Disbursements.
*    Applicable for residual March transaction only.

Signature

1)    Nodal Branch Manager
2)    Officer-in-Charge of Link Cell

ANNEXURE 10
(Vide Para 15.18.2)

RESERVE BANK OF INDIA 
CENTRAL ACCOUNTS SECTION

C.B.D.T. - MONTHLY CLOSING STATEMENT FOR THE MONTH OF _____________

Z.A.O.

Account (Name of Tax)

Bank _________________________

Transaction Date

Receipt

Refund

Net Dr/Cr

 

 

 

     

Total

     

Bank Total

     

Z.A.O. Total

     

Note : 1.    Separate statements for each Major Head of Account.
2.    Separate statements for each Nodal Branch.

ANNEXURE 11
[Vide Para 15.19.9and 15.20.1(a)]

RESERVE BANK OF INDIA,CENTRAL ACCOUNTS SECTION,NAGPUR

C.B.D.T. STATEMENT No.2

SUMMARY OF TRANSACTIONS FOR THE MONTH OF ________________

ZAO __________________

Account

Receipt

Refund

Net Dr/Cr

Corporation Tax

Income Tax excl. Corpn. Tax

Estate Duty

Taxes on Wealth

Gift Tax

     

Total

     

ANNEXURE 12
[Vide Para 15.20.1(b)]

RESERVE BANK OF INDIA,CENTRAL ACCOUNTS SECTION,NAGPUR

C.B.D.T. STATEMENT No.3

SUMMARY OF TRANSACTIONS FOR THE MONTH OF ________________

ZAO __________________

Bank Name

Account Name

Receipt

Refund

Net Dr/Cr

Allahabad Bank

Corporation Tax 
Income Tax
Taxes on Wealth
Gift Tax

     

Bank Total

       

Punjab National Bank

Corporation Tax
Income Tax

     

Bank Total

       

State Bank of India

Corporation Tax
Income Tax
….

     

Bank Total

       

ZAO TOTAL

       

ANNEXURE 13
[Vide Para 15.20.1(c)]

RESERVE BANK OF INDIA,CENTRAL ACCOUNTS SECTION,NAGPUR

C.B.D.T. STATEMENT No.4

Bank-wise Summary of transactions for the month of _____________________

Bank Name

Account Name

Receipt

Refund

Net Dr/Cr

Allahabad Bank

Corporation Tax
Income Tax
Taxes on Wealth
Gift Tax

     

Bank Total

       

Bank of Baroda

Corporation Tax
Income Tax

     

Bank Total

       

Bank of India

Corporation Tax
Income Tax
….

     

Bank Total

       

Bank of Maharastra

Corporation Tax 
..

     

GRAND TOTAL

       

ANNEXURE 14
[Vide Para 15.20 (i) (d)]

RESERVE BANK OF INDIA, CENTRAL ACCOUNTS SECTION, NAGPUR

C.B.D.T. STATEMENT No.5

Summary of transaction for the month of ___________________________

Account Detail

Receipt

Refund

Net Dr/Cr

0020-Corporation Tax

0021-Income Tax (Excl.Corpn.Tax)

0024-Interest Tax

0028-Other Taxes on I&E

0031-Estate Duty

0032-Taxes on Wealth

0033-Gift Tax

     

Grand Total