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TMI BlogUPDATED USER GUIDE ON PAYING MCA21 FEES VIA NEFTX X X X Extracts X X X X X X X X Extracts X X X X ..... 1 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 involving stamp duty, there will be two SRNs (one for filing fee & another for stamp duty). Payment for these two SRNs should be made separately into the respective designated accounts. Details of Account Numbers For MCA Filing For Stamp duty Payment HDFC HDFC Account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es/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) can also deposit cash at the NEFT-enabled branch with instructions to transfer funds using NEFT. A separate Transaction Code (No. 50) has been allotted in the NEFT system to facilitate walk-in customers to deposit cash and transfer funds to a beneficiary. Such customers have to furnish full details including complete address, telephone number, etc. NEFT, thus, facilitates originators or remitters to initiate funds transfer transaction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al/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 (complete address and telephone number, etc.) to the branch. This will help the branch to refund the money to the customer in case credit could not be afforded to the beneficiary's bank account or the transaction is rejected / returned for any reason. Step-2 : The originating bank branch prepares a message and sends the message to its pooling centre (also called the NEFT Service Centre). Step-3 : The pooling centre forwards the message to the NEFT Clearing Centr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 maintains an account with Nepal SBI Ltd. (NSBL). (c) State Bank of India shares this amount equally with NSBL. NSBL would not charge any additional amount for crediting the account of the beneficiary. (d) In case the beneficiary does not maintain an account with NSBL, an additional amount would be charged @ Rs. 50 (+ Service Tax) for remittances up to Rs. 5,000 and Rs. 75 (+ Service Tax) for remittances above Rs. 5,000. The charges for the Indo-Nepal Remittance Facility Scheme would, thus, be a minimum of Rs. 25 (+ Service Tax) or a maximum of Rs. 100 (+ Service Tax) depending on the value of transaction and the manner in which credit is afforded to the beneficiary. Originating bank branches have been advised to rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 batch. The originating branch is expected to afford credit to the originating customer, maybe within the next 30 minutes, (say) by 3.30 pm. To conclude, for all uncredited transactions, customers can reasonably expect the funds to be received back by them in around 3 to 4 hours time. Q.16. Can NEFT be used to transfer funds from/to NRE and NRO accounts? Ans: Yes. NEFT can be used to transfer funds from or to NRE and NRO accounts in the country. This, however, is subject to the adherence of the provisions of the Foreign Exchange Management Act, 2000 (FEMA). Q.17. Can inward foreign remittances be received through NEFT? Ans : No. The NEFT system can be used only for remitting Indian Rupees between the participating bank branches in the country. Q.18. Can remittances abroad b ..... 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