RBI asks income tax assessees to pay dues in advance, 29 banks authorized to accept payments

The Reserve Bank appealed to income tax assessees to pay dues in advance of the due date as well use alternate channels of authorized banks to avoid the rush during end of March.



"Pay I-T dues in advance at RBI or at authorized bank branches. Appeal to income tax assessees to remit their income tax dues sufficiently in advance of the due date," RBI said in a release.

"It is observed that the rush for remitting Income-Tax dues through the RBI has been far too heavy towards the end of
March every year and it becomes difficult for the RBI to cope with the pressure of issuing receipts although additional
counters to the maximum extent possible are provided for the purpose", it said.

RBI said assessees can use alternate channels like select branches of agency banks or the facility of online payment of
taxes offered by these banks.

A total of 29 agency banks have been authorized to accept payments of Income-Tax dues. The authorised banks include SBI and its five associates, HDFC Bank, ICICI Bank, Axis, Bank, Punjab National Bank, Bank of Baroda, Bank of India, Indian Overseas Bank.

Among others are Corporation Bank, Dena Bank, Canara Bank, Central Bank of India, Syndicate Bank and others.
RBI said by remitting dues at the designated banks will obviate the I-T assessess' inconvenience in standing in long
queues at the RBI offices.


Published Date: Feb 16, 2016 10:49 AM | Updated Date: Feb 16, 2016 10:49 AM

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