Para 15.8 — CAM

15.8 PROCEDURE TO BE FOLLOWED FOR DIRECT TAX PAYMENT THROUGH NEFT/RTGS AT ANY BANK: 15.8.1 Under this mode, payment of direct taxes through NEFT/RTGS can be done through any bank participating in the NEFT/RTGS clearing system of the RBI. RBI would itself be the recipient of the amount transferred through NEFT/RTGS, thus, eliminating the need for a link-up first with an authorized bank to receive the payment and, thereafter, its transfer to the RBI. RBI would, thus, perform the role of an authorized bank and that of an e-FPB in this mode of payment. Once this mode is selected by the tax payer, besides the generation of CRN, TIN 2.0 also generates “NEFT/RTGS Mandate Form”.