Sunday, March 31, however bank-IT workplaces will open: Banking will likely be like a working day; Reserve Financial institution issued notification

Regardless of March 31, 2024 being a Sunday vacation, all company banks will stay open to the general public. For this, the Reserve Financial institution of India (RBI) has issued a notification right this moment on Wednesday. The Earnings Tax Division has additionally requested to maintain all its workplaces open.

In accordance with the RBI round, “Banks are suggested to maintain all their branches associated to authorities enterprise open on Sunday, March 31, 2024. Aside from this, all company banks may even stay open to the general public, in order that in FY24, receipts and In order that accounts of all authorities transactions associated to funds will be maintained. Allow us to inform you that this present day is the final day of the present monetary yr 2023-24 (FY24).

It’s clear from this round that together with authorities work, banks may even work for most people. On this present day, all of the services offered to most people will likely be out there as earlier than. This notification has been issued via RBI Chief Common Supervisor Sunil TS Nair.

All transactions are settled
Yearly March 31 is the final day of the monetary yr. On this present day, all transactions associated to the federal government ought to be settled ideally. Because of this, transactions via Nationwide Digital Funds Switch (NEFT) and Actual Time Gross Settlement (RTGS) system proceed until 12 midnight on March 31.

Holidays on Saturday-Sunday together with Good Friday canceled in Earnings Tax Division
As a result of finish of the present monetary yr, the Earnings Tax Division has additionally canceled the lengthy weekend holidays of all its workplaces. As we speak the division has issued a round relating to this.

The division has taken this resolution to finish tax associated work. Meaning, all of the workplaces of the Earnings Tax Division will stay open on March 29 (Friday), March 30 (Saturday) and March 31 (Sunday).

With this resolution of the division, the taxpayer will get 3 extra days to finish the tax associated work, as a result of on account of Holi this week, all of the Earnings Tax Division workplaces will stay closed on Monday. In such a state of affairs, to supply comfort to the taxpayers, the division has determined to finish the lengthy weekend.