Para 15.11 — CAM
Original Rule Text
15.11 ZONAL ACCOUNTS OFFICE (ZAO) – BANK MAPPING
15.11.1 Each authorized bank including RBI (as agency bank) is mapped with a particular ZAO in the PRAKALP system for the purpose of accounting, reconciliation and reporting.
15.11.2 The RBI sends Put Through statements w.r.t. transactions reported by authorised banks, bank-wise and Major Head (MH) wise in the proforma as prescribed by O/o Pr. CCA, CBDT from time to time.
15.12 ROLE OF STAKEHOLDER (ELECTRONIC FOCAL POINT BRANCHES OF AUTHORIZED BANKS)
15.12.1 e-FPBs, branch(es) nominated by Authorized banks, are responsible as the single point of contact for all required coordination for the purpose of direct tax payments. These have overall responsibility for the prompt and accurate transmission of the information pertaining to collections under direct tax. It also monitors the daily receipts and check the accuracy of the details received from the branches of the Authorized Banks regarding collection of direct taxes in the case of OTC payments.
15.12.2 The payment should reach the destination bank/e-FPB before the expiry of validity period of CRN generated. Each e-FPB of Authorized banks uses direct tax accounts of Government of India for direct tax collection in which the remittances received by it would be credited.
15.12.3 It is also the responsibility of the e-FPB to provide physical DMS to the concerned ZAO to enable reconciliation with the data provided by e-FPB on PRAKALP. e-FPB promptly acts on the discrepancies reported by the ZAOs in case of any mismatch in the figure of physical DMS and the data reported on PRAKALP. The e-FPB communicates to the ZAO that necessary action has been taken to resolve any reconciliation issue as reported by the ZAO.
15.12.4 eFPBs are responsible for following functions:
A. Sending information to TIN 2.0
a. e-FPBs collate the Challan data of all successful payment transactions for all applicable modes made on day T (including nil payment days), prepare a Draft Luggage File, and transmit the same in the prescribed format to TIN 2.0 in the morning of next day (i.e. T+1) for system level reconciliation.
b. e-FPBs receive system level reconciliation report from TIN 2.0 on the Draft Luggage File, carry out relevant corrections, and then send revised e-Scrolls on PRAKALP to the office of Pr. CCA, CBDT. e-FPBs also send the information on T+1 basis to RBI through e-file/luggage file on IT platform.
B. Fund Settlement to RBI
Before 06:00 PM of the (T+1) day, each e-FPB is responsible for sending daily Luggage File containing transaction level details of receipts from all modes of payments for day T (including nil payment days) to RBI for the purpose of fund settlement. The format of Luggage File has been decided by RBI. Each Luggage File has a Unique Serial Number which is a running serial number extending through a financial year which will facilitate identification of missing files. This Luggage File number is a part of the electronic file.
What This Means
Each authorized bank (including RBI as an agency bank) is mapped to a specific Zonal Accounts Office (ZAO) in the PRAKALP system for accounting, reconciliation, and reporting of direct tax collections. Electronic Focal Point Branches (e-FPBs) serve as the single point of contact for direct tax payment coordination. They collate challan data, prepare draft luggage files, send e-scrolls to the Pr. CCA (CBDT) via PRAKALP, and settle funds with RBI before 6 PM on T+1 day. RBI's e-Kuber system debits bank accounts and credits the government's direct tax account.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Every authorized bank is mapped to a specific ZAO in PRAKALP for direct tax accounting and reconciliation
- 2e-FPBs are the single point of contact for all direct tax payment coordination and reporting
- 3e-FPBs must send draft luggage files to TIN 2.0 and e-scrolls to Pr. CCA on T+1 basis
- 4Fund settlement with RBI must happen before 6:00 PM on T+1 day via luggage files
- 5RBI (e-Kuber) debits bank accounts, credits government direct tax accounts, and sends digitally signed credit notifications to PRAKALP
Practical Example
A taxpayer pays advance income tax at a branch of Punjab National Bank on Monday (Day T). The branch reports the collection to its e-FPB, which collates all branch-level transactions and sends a draft luggage file to TIN 2.0 by Tuesday morning. By Tuesday 6 PM, the e-FPB sends the luggage file to RBI for fund settlement. RBI debits PNB's account, credits the government's direct tax account, and transmits a credit notification to PRAKALP, where the mapped ZAO records the accounting entry.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What is the role of an e-FPB in direct tax collections?▼
What is the T+1 timeline in direct tax collections?▼
What is PRAKALP?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.