November 25, 2016
We have received a communication dated November 23, 2016 from RBI on the captioned subject along with the Office Memorandum F.No.142/8/2016-TPL (Part) dated November 10, 2016 by the GOI, MOF, Department of Revenue, CBDT [copy enclosed].
It has been alleged that the bank authorities are refusing to accept payment stating that since IDS, 2016 has closed on 30.092016 the banks cannot accept the challan beyond the date.
The Office Memorandum mentions about the revised Schedule for Making Payments of tax, surcharge and penalty:
- a minimum amount of 25% of the tax, surcharge and penalty to be paid by 30.11.2016;
- a further amount of 25% of the tax, surcharge and penalty to be paid by 31.3.2017; and
- the balance amount to be paid on or before 30.9.2017.
Accordingly, all the member banks are requested to make note of the above time schedule and as directed accept payments under IDS, 2016 upto 30.09.2017 and also for such cases the banks should not seek source of funds.