f. During the first 15 days in April every year, the nodal branches will
transmit and prepare two separate sets of scrolls – one normal scroll
pertaining to April transactions and the other one pertaining to March
transactions (which means scrolls of cheques / drafts / ITROs tendered
and cleared upto 31st March by receiving branches and sent to the nodal
branch subsequent to 31st March but before 15th April) - these will be
scrolled by nodal branch as March residual account. The nodal branches
will intimate the link cell at Nagpur for inclusion of these transactions as
March transactions. The nodal branches will send another scroll for April
transactions prominently indicating the month of account. Any
cheque/draft tendered on or before 31st March and realised on or after 1st
April will be treated as part of the April transactions. However, in light of
the instruction that data for all challans for which payment has been
realised on a given day should be transmitted online to the Income Tax
Department on the same day, separate March residual scroll should only
be needed in exceptional cases.
g. The nodal branch will pass on the consolidated amount accounted by it to
its Link Cell on day-to-day basis.
7. Crediting the tax collection to Government Account
The Nodal Branch acts as a pooling centre for all the receiving branches
coming under its control and it is responsible for reporting of the transactions
(along with all the related documents i.e. Challans and scrolls) to the ZAO. It is
also responsible for transmitting the challan data for all these transactions to its
Link Cell at Nagpur for onward online transmission to the Income Tax
Department as well as for crediting the amount collected to Reserve Bank of
India (Central Accounts Section or CAS), Nagpur.
The Nodal Branch will prepare a daily memo and send it on a daily basis
to its Link Cell at Nagpur (GAD, Mumbai in case of SBI) which in turn will make a
daily settlement with RBI, CAS, Nagpur.
The Link Cell of banks at Nagpur will consolidate the challan data received
from the Nodal Branch for transmission to the Department's Tax Information
Network (TIN) and will also monitor the daily receipts and check the accuracy of
the daily memos received from the Nodal Branches. The Link Cell will then
transmit the daily memos to CAS, RBI, Nagpur.
The Nodal Branches of the banks will carry out monthly reconciliation with
ZAOs of the amount settled by them with their Link Cell at Nagpur. On the basis
of their records the ZAOs will verify the statements received from the Nodal
Branches both major head-wise and Nodal Bank-wise. In case of any
discrepancy, the Nodal Branch will carry out the corrections immediately and
adjust the difference in the amount already credited / debited to the CBDT’s
account through its Link Cell at Nagpur under information to the ZAO.
For the purpose of final reconciliation of the transactions with ZAOs and
the Link Cell, the CAS, RBI, Nagpur will generate a monthly statement and
furnish the same to ZAO and the Link Cell of the banks. RBI, CAS, Nagpur will
furnish by 20th of the following month, a monthly analysis indicating major head-
wise receipts / refunds etc. to the CCA, CBDT.