Banks to remain open on weekend to facilitate tax collection

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Bank branches will remain open for full day on March 29, 30 and 31 to facilitate tax collection.

While March 29 is a Saturday, March 30 is Sunday and March 31 is the last year of financial year and is a public holiday in some parts of the country.

“The Chairperson, Central Board of Excise and Customs (CBEC) has requested the Secretary Financial Services to issue instructions to have the banks open for full day on 29th, 30th and 31st March 2014 so that the efforts made for collections of revenue are reflected appropriately,” an office memorandum said.

Bulk of the revenue is received at the end of the month, it said, adding banks need to facilitate electronic tax payment by assessees.