April 15 is date of closure of Residual transactions
FOR the Financial Year 2014-15, the date of closure of Residual Transactions for the month of March 2015 is fixed as April 15, 2015 and the Banks are instructed to
1. introduce special messenger arrangements at local receiving branches.
2. ensure that collections made on behalf of Government towards the end of March are accounted for in the same financial year.
3. ensure that arrears, if any, are cleared before 15 April 2015.
Further
- the Nodal/Focal Point branches will be required to prepare separate sets of scrolls, one pertaining to March Residual Transactions and another for April transactions during the first 15 days of April 2015.
- The Nodal/Focal Point branches should also ensure that the accounts for all transactions (revenues/tax collections/payments) are effected at the receiving branches up to 31st March 2015 in the accounts for the current financial year itself and are not mixed up with the transactions of April 2015.