TaxTMI 
TaxTMI 
UPDATED USER GUIDE ON PAYING MCA21 FEES VIA NEFT
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....procedure for conducting the NEFT transfer; 2. User transfer funds to one of the MCA21 account via internet banking facility offered by their bank in which they hold an account. User may quote SRN in the remark column; 3. User's bank provides a unique transaction number (UTN) for the NEFT transfer; 4. Banks will inform MCA21 system in four to five working hours about the payment along with the UTN; 5. User logins to MCA21 and link UTN and SRN. For verification purpose, user will have to provide account number from which the transfer was carried out and the amount. If the payment has been notified to MCA21 system and the details are matching, then the linking will be successful and MCA21 will create work item for further processing; 6. If details of payment for the SRN is still not received from banks, an information message is displayed to user to link SRN & UTN at a later time; If details doesn't match an error message is shown to the user; 7. It should be noted that for transactions involvin....
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....tem that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country. Q.2. Are all bank branches in the country part of the NEFT funds transfer network? Ans: For being part of the NEFT funds transfer network, a bank branch has to be NEFT-enabled. As at end-January 2011, 74,680 branches/offices of 101 banks in the country (out of around 82,400 bank branches) are NEFT-enabled. Steps are being taken to further widen the coverage both in terms of banks and branches / offices. Q.3. How can one know which bank branches are part of the NEFT network? Ans: The list of bank branches participating in the NEFT system is available on the website of Reserve Bank of India at http://www.rbi.org.in/scripts/neft.aspx. Details will also be available with the banks/branches participating in the NEFT system. Q.4. Who can transfer funds using NEFT? Ans: Individuals, firms or corporates maintaining accounts with a bank branch can transfer funds using NEFT. Even such individuals, firms or corporates who do not have a bank account (walk-in customers....
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....d breadth of the country. To facilitate operation of the Indo-Nepal Remittance Facility Scheme, the NEFT system also extends to branches of banks in Nepal (as detailed at Q.5 above). Q.8. What are the operating hours of NEFT? Ans : Presently, NEFT operates in hourly batches - there are eleven settlements from 9 am to 7 pm on week days and five settlements from 9 am to 1 pm on Saturdays. Q.9. How does the NEFT system operate? Step-1 : An individual/firm/corporate intending to originate transfer of funds through NEFT has to fill an application form providing details of the beneficiary (like, name of the beneficiary, name of the bank branch where the beneficiary has an account, IFSC of the beneficiary bank branch, account type and account number). The application form will be available at the originating bank branch. The remitter authorizes his/her bank branch to debit his account and remit the specified amount to the beneficiary. Customers enjoying net banking facility offered by their bankers can initiate the funds transfer request online. Some banks offer the NEFT facility even through the ATMs. Walk-in customers will, however, have to give their contact details (com....
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....ice charges to be levied by the member banks from their customers have also been rationalised by Reserve Bank of India as under : - (a) Inward transactions at destination bank branches (for credit to beneficiary accounts) - Free, no charges to be levied from beneficiaries (b) Outward transactions at originating bank branches (charges for the remitter) - For transactions up to Rs. 1 lakh - not exceeding Rs. 5 (+ Service Tax) - For transactions above Rs. 1 lakh and up to Rs. 2 lakhs - not exceeding Rs. 15 (+ Service Tax) - For transactions above Rs. 2 lakhs - not exceeding Rs. 25 (+ Service Tax) Note: Charges applicable for transferring funds from India to Nepal using the NEFT system (under the Indo-Nepal Remittance Facility Scheme), are as under - (a) Originating bank branch in India - Maximum Rs. 5 (+ Service Tax) per transaction. (b) State Bank of India in India - Rs. 20 (+ Service Tax) per transaction if the beneficiary maint....
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....If the issue is not resolved satisfactorily, the NEFT Help Desk (or Customer Facilitation Centre of Reserve Bank of India) at National Clearing Cell, Reserve Bank of India, Mumbai may be contacted through e-mail or by addressing correspondence to the General Manager, Reserve Bank of India, National Clearing Centre, First Floor, Free Press House, Nariman Point, Mumbai - 400 021. Q.15. What will happen if credit is not afforded to the account of the beneficiary? Ans: If it is not possible to afford credit to the account of the beneficiary for whatever reason, destination banks are required to return the transaction (to the originating branch) within two hours of completion of the batch in which the transaction was processed. For example, if a customer submits a fund transfer request at 12.05 p.m. to a NEFT-enabled branch, the branch in turn forwards the message through its pooling centre to the NEFT Clearing Centre for processing in the immediately available batch which (say) is the 1.00 pm batch. The destination bank, if is unable to afford the credit to the beneficiary for any reason, has to return the transaction to the originating bank, not later than in the 3.00 pm batc....