RBI designates 29 bank branches to collect advance income tax-Business Line
NEW DELHI, NOV 18:
The Reserve Bank of India has appealed to income-tax assessees to pay their income-tax dues well before the due date to avoid the March-end rush seen every year.
The banking regulator has designated 29 public and private sector banks as agency banks to accept payments of income-tax dues, according to an RBI statement.
The banks include State Bank of India and its subsidiaries, Punjab National Bank, ICICI Bank, HDFC Bank, Axis Bank, Bank of Baroda, Bank of India and Canara Bank.
The RBI has asked income-tax assessees to remit their dues sufficiently in advance of the due date by using alternate channels such as select branches of agency banks or the online tax payment facility offered by these banks. These will obviate the inconvenience of standing in long queues at Reserve Bank offices, RBI said.
The central bank was finding it difficult to meet the rush for remitting income-tax dues at the end of March every year although additional counters were being provided to the extent possible.
Other agency banks include Allahabad Bank, Andhra Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sindh Bank, Syndicate Bank, UCO Bank, United Bank of India and Vijaya Bank
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