| Overview
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The Finance Act, 2005 had introduced a new levy,
namely, the Banking Cash Transaction Tax (hereafter referred to
as BCTT) on certain banking transactions. The provisions relating
to levy of this tax are contained in Chapter VII (sections 93 to
112) of the Act. Section 111 of the Act empowers the Central Government
to make the rules for carrying out the provisions of this Chapter.
The rules have since been formulated and notified vide S.O. 737
(E), Dated 30-5-2005.
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| Steps
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How
Skorydov Banking Cash Transaction Tax Software works for the entire
Bank and its branches?
The Software has two modules viz. Branch Module and Bank Module.
Read about the modules below. The Branch sends BCT (Skorydov BCT)
files to the head office every month. The head office imports the
BCT files to automatically create BCTTS-2 and BCTTS-3 as required
by the BANKING CASH TRANSACTION TAX RULES, 2005.
Physical Forms are not to be submitted to the Income-tax Department.
Electronic Forms need to be submitted to the Income-tax Department
at the address mentioned below:
Bank Module:
This module is to be used by the head office or the main branch
of a bank. This module will help the bank create the electronic form
BCTTS-2 as required by Rule(5) of the BCTT Rules, 2005 and the electronic
form BCTTS-3 (Return) as required by Rule(6) of the BCTT Rules, 2005.
This module creates imports the BCT files sent by branches to create
Form BCTTS-2 and Form BCTTS-3.
Branch Module:
This module is to be used by the branches of a bank. This module
will help the branch create the electronic form BCTTS-1 as required
by Rule(3)(1) of the BCTT Rules, 2005. These files need to be stored
in an electronic file which the module takes care. More importantly,
this module creates the BCT files required by the Head office of the
Bank to create Form BCTTS-2 and Form BCTTS-3. The module creates the
BCT file which needs to be sent to the Head office every month. |
| Where
to Submit |
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To,
The Directorate General of Income tax - Investigation
E-2, ARA Centre, 3rd Floor
Jhandelwallan Extn.
New Delhi 110 055
With a covering letter. See Download Section |
| System
Requirements |
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- Supported Operating Systems: Windows Server
2003; Windows Vista; Windows XP; Windows XP Home Edition, Windows
98
- Microsoft Windows Excel 2000 or above
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Due Dates
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| Before the end of the following month.
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Other useful Links
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Income-tax Department
Branch Code Search |
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