The Reserve Bank of India has issued guidelines to ensure that tax collected by banks at the end of March 2016 is accounted for the Financial year 2015-16.
In a letter by Deputy General Manager of RBI, Mr. Manish Parashar noted that, Scheme for Collection of Dues of (i) Central Board of Direct Taxes (ii) Central Board of Excise and Customs (iii) Departmentalised Ministries Account – Reporting and Accounting of March Transactions – Special Arrangements – Financial Year 2015-16.
Read the full text of the letter below.
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