March 22, 2005

The Chairman/Chairman & Managing Director/Managing Director
State Bank of India & its Associate Banks
All Public Sector Banks Jammu & Kashmir Bank Ltd.
HDFC Bank Ltd./ICICI Bank Ltd. UTI Bank Ltd./IDBI Bank Ltd.

Dear Sir,

Annual Closing of Accounts - Receipt of all Central /State Government Taxes (Direct/Indirect) – Arrangements for the Current Financial Year (2004-05)

We have received requests from Government Departments/Ministries for extension of the working hours on March 31, 2005 by offices of Reserve Bank and branches of Agency banks conducting Government Business so that the receipts of taxes are facilitated till late hours on that date. Accordingly, with a view to meeting the expected rush of tax payers on account of closing of Government Accounts for the current Financial Year (2004-05), it has been decided that the agency banks and Reserve Bank Offices should provide usual facilities to assessees for deposit of taxes on March 31, 2005 (Thursday). Depending on the Government requirements and the rush of the assessees for payment of taxes, you may suitably extend the banking hours of your branches authorised to conduct Government business by keeping the counters open for the purpose, taking into account security aspects of the bank branch concerned. No assessee should be turned away from the bank without payment of tax.

2. Special clearing (with return clearing) may be conducted at the discretion of the President of Local Clearing Houses run by RBI/Agency Bank keeping in view the operational convenience at the local centres so that the cheques deposited are realized and credited to Government account on the same day.

3. A Press Communique may also be released by the Agency Banks for the information of the public and tax payers in all leading dailies, in English, Hindi and vernacular, notifying the names of branches of the agency banks which are designated to accept taxes, so that the pressure on bank branches is evenly distributed.

4. The instructions as above apply only to receipt of taxes.

Yours faithfully,

Sd/-
(M.T.Varghese)
General Manager