While 29th March is a Saturday, 30th March is Sunday and 31st March is the last year of financial year and is a public holiday (Gudi Padwa) in some parts of the country
Bank branches across the country will remain open for full day between 29th to 31st March to facilitate tax collection.
While 29th March is a Saturday, 30th March is Sunday and 31st March is the last year of financial year and is a public holiday (Gudi Padwa) in some parts of the country.
“The Chairperson, Central Board of Excise and Customs has requested the Secretary Financial Services to issue instructions to have the banks open for full day on 29th, 30th and 31 March 2014 so that the efforts made for collections of revenue are reflected appropriately,” an office memorandum said.
Bulk of the revenue is received at the end of the month, it said, adding banks need to facilitate electronic tax payment by assessees.
In the 2014 interim budget, the government has lowered the indirect tax collection target for the current fiscal by Rs45,483 crore to over Rs5.19 lakh crore.
Of this, over Rs1.75 lakh crore and Rs1.79 lakh crore is to be mobilised from customs and excise duty collection and about Rs1.65 lakh crore from service tax.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
