July 14, 2005

The Chairman/Chairman and Managing Director
All Agency Banks including
Jammu and Kashmir Bank Ltd.

Dear Sir,

Please refer to paragraph two of our circular RBI/ 2005/ 42, DGBA. GAD. No. H-76/ 42.01.001/2005-06 dated July 4, 2005 regarding Finance Act 2005- Changes in Major Head and Challans-OLTAS.

2. It has been brought to our notice by CBDT authorities that certain branches of authorized banks are not accepting the payment of Fringe Benefit Tax as the banks’ software has not been modified. We advise you to look into the matter immediately and ensure that all your authorized branches accept the above tax from customers without fail.

Yours faithfully,

(M.T.Varghese)
General Manager