You must note that the OLTAS System through which Bank Receives all Direct Tax Payment and records PAN wise or TAN wise works up to 8.00 P.M. So never logon to Bank Site for payment of Tax after 8.00 P.M. This may land up yourself in to finding out lost money in the Bank Channel for 2/3 days which can lead to sleepless night.
Particulary on 30th. September, the last date of filing I.T.Returns for 2008-09 assessment year, pay all self assessment tax before 8.00 P.M.
Dear Panda Ji,
I use to make a lot of e-payments at midnight somewhere around 2.00 am to 4.00 AM but out of hundreds and thousands of my payments not even a single transaction has been misplaced.
I think this all viz payment upto 8.00 Am etc is just a rumour to male the e-payment scheme a failure.
Dear Friends,
Actually the fact is that some bank has fixed cut off time for payments for each day though you can deposit tax 24X7 but payment made after 8pm will be considered in the next days ......moreover this practice or cut of time has been fixed by majority of the banks no necessarly the time is 8 pm for all the banksso you should confirm from your banks what is the cut off time ,
Misplacing of payment is not correct..
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
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AJAY SINGH AND CO LLP
Thane
CA Final
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CA Suraj Garg & Associates
New Delhi
CA Final
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CCI
Pro
CAclubindia
