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RBI/2005-06/97
Ref. DGBA.GAD. No.H. 488 /42.01.034 /2005-06
August 6, 2005
The Chairman/Chairman and Managing Director All
Agency Banks including
Jammu and Kashmir Bank Ltd.
Dear Sir,
Tax Counterfoil for Cash Payments/
Debit to A/c. with the designated branch
As you are aware, under Online
Tax Accounting System (OLTAS), banks are required to deliver taxpayers’ counterfoil
across the counter in case of cash payments or where amount is collected by
transfer entry in the same branch.
2. It has been brought to our notice
by Directorate of Income Tax (Systems) that some branches of agency banks are
issuing the taxpayers’ counterfoils in such cases with delay of a few days.
We reiterate that tax payers’ counterfoil in such cases should be issued to
the customers immediately across the counter.
3. Please advise your branches
accordingly.
Yours faithfully,
Sd/-
(M.T. Varghese)
General Manager
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