RBI asks taxpayers to pay income tax dues in advance

The Reserve Bank asked taxpayers to deposit income tax dues in advance at RBI or authorised bank branches to avoid last minute rush at December end, reported PTI.

"Pay IT dues in advance at RBI or at authorised bank branches. The RBI appeals to income tax assessees to remit their income tax dues sufficiently in advance of the due date," RBI said in a release.

RBI asks taxpayers to pay income tax dues in advance
RBI has advised taxpayers to deposit dues in advance keeping in view the public rush towards the end of December every year for payment.

The apex bank said tax dues can be paid at RBI or at 29 authorised bank branches including that of SBI, ICICI Bank, HDFC Bank, Axis Bank and Punjab National Bank

Branches of Allahabad Bank, Syndicate Bank, Andhra Bank, UCO Bank, Bank of Baroda, Union Bank of India, Bank of India, United Bank of India, Bank of Maharashtra, Vijaya Bank, Canara Bank, Central Bank of India, State Bank of Bikaner & Jaipur have also been designated by RBI to collect the income tax dues in advance.

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

It said rush for remitting income tax dues through the RBI has been far too heavy towards the end of December every year and it becomes difficult for it to cope with the pressure of issuing receipts although additional counters to the maximum extent possible are provided for the purpose.

"These will obviate the inconvenience involved in standing in long queues at the RBI offices," it added.

Read more about: rbi
Story first published: Thursday, November 20, 2014, 9:20 [IST]
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