Important Update: RBI Offices and Tax Services Open on March 30th & 31st.

Great news for taxpayers! To ensure smooth government transactions and tax filing, several important services will be available on Saturday, March 30th, and Sunday, March 31st.

Here’s what you need to know:

RBI Offices Open: The Reserve Bank of India offices dealing with government business will be open with normal working hours on both days.

Special Cheque Clearing: Special arrangements are in place for clearing government cheques on March 30th and 31st.

Extended NEFT & RTGS Timings: Electronic fund transfers via NEFT and RTGS will be available until midnight on March 31st.

Tax Services Available: Income Tax department offices will also be open on both days to assist taxpayers.

Reporting Window Extension: For reporting Central and State government transactions to RBI (including GST, TIN, ICEGATE, and e-receipts), the deadline has been extended to noon on April 1st.

Take advantage of this RBI extended window to:

• File your income tax return for 2021-22 (if not already done).
• Make any necessary tax-saving investments.
• Clear any pending tax-related tasks.
• Beat the deadline and avoid last-minute stress!

In a move to support government receipts and payments, the Reserve Bank of India (RBI) has announced that its offices handling government business will operate on March 30 and 31, 2024, observing normal working hours. This decision aligns with the RBI’s commitment to taxpayer convenience, ensuring seamless financial transactions at the end of the fiscal year.

To further aid in government transactions, the RBI has arranged for special clearing operations nationwide on these dates. This initiative is specifically designed to process government cheques, facilitating timely and efficient handling of public finances.

Moreover, the RBI has confirmed that electronic transactions via the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will be available until midnight on March 31, 2024. Agency banks are advised to ensure all government-related cheques are presented for clearing during this period.

Additionally, the deadline for reporting Central and State government transactions, including GST, TIN2.0, ICEGATE, and e-receipts, has been extended. The reporting window will remain open until noon on April 1, 2024, allowing for comprehensive financial reporting and compliance.

Banks and the Income-Tax department are also extending their service hours for taxpayers during this period. This initiative follows the Income-Tax department’s earlier announcement that its offices will not observe the long weekend from March 29 to 31, remaining open to assist with tax-related matters.

This extended operational period comes just ahead of the long weekend marked by Good Friday on March 29, followed by the weekend. The additional days are aimed at offering individuals ample opportunity to update income tax returns for the fiscal year 2021-22 and make tax-saving investments, ensuring compliance with tax regulations and facilitating financial management.

Taxpayers are encouraged to leverage these additional working days to settle their tax obligations efficiently, benefiting from the extended services provided by the RBI, banks, and the Income-Tax department.

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Visit: Reserve Bank of India (rbi.org.in)