E-payment mandate ensures online and cash payments are accounted same-day; cheque clearance determines fiscal year allocation. E-payments and cash payments made by the assessee are accounted the same day (scroll date) and thus in the same financial year; payments by negotiable instrument are credited only on honor, with the scroll date taken as the date of clearance, which may shift accounting into the next financial year. Taxpayers required to pay electronically under the applicable notifications should make payments early to ensure settlement in the current year and avoid last minute congestion; banks were urged to keep branches open at month end.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
E-payment mandate ensures online and cash payments are accounted same-day; cheque clearance determines fiscal year allocation.
E-payments and cash payments made by the assessee are accounted the same day (scroll date) and thus in the same financial year; payments by negotiable instrument are credited only on honor, with the scroll date taken as the date of clearance, which may shift accounting into the next financial year. Taxpayers required to pay electronically under the applicable notifications should make payments early to ensure settlement in the current year and avoid last minute congestion; banks were urged to keep branches open at month end.
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