RBI asks tax payers to pay IT dues in advance
In order to avoid inconvenience caused by last minute rush for paying taxes, the Reserve Bank of India (RBI) has asked income tax payers to pay their dues in advance at authorised bank branches or by making online payment of taxes offered by those banks. “The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date,” RBI said in a notification. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate the inconvenience involved in standing in long queues at the Reserve Bank offices. “It is observed that the rush for remitting Income –Tax dues through the Reserve Bank of India has been far too heavy towards the end of June every year and it becomes difficult for the Reserve Bank to cope with the pressure of issuing receipts although additional counters to the maximum extent possible are provided for the purpose,” said the notification. Twenty-nine agency banks are authorised to accept payments of Income Tax dues. The designated banks include Corporation Bank, Bank of India, Allahabad Bank, Syndicate Bank, SBI, HDFC Bank, Axis Bank, Punjab & Sindh Bank, ICICI Bank and Punjab National Bank among others.
In order to avoid inconvenience caused by last minute rush for paying taxes, the Reserve Bank of India (RBI) has asked income tax payers to pay their dues in advance at authorised bank branches or by making online payment of taxes offered by those banks. “The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date,” RBI said in a notification. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate the inconvenience involved in standing in long queues at the Reserve Bank offices. “It is observed that the rush for remitting Income –Tax dues through the Reserve Bank of India has been far too heavy towards the end of June every year and it becomes difficult for the Reserve Bank to cope with the pressure of issuing receipts although additional counters to the maximum extent possible are provided for the purpose,” said the notification. Twenty-nine agency banks are authorised to accept payments of Income Tax dues. The designated banks include Corporation Bank, Bank of India, Allahabad Bank, Syndicate Bank, SBI, HDFC Bank, Axis Bank, Punjab & Sindh Bank, ICICI Bank and Punjab National Bank among others.
