Reserve Bank has asked income tax assessees to pay their dues in advance and has designated a total of 29 banks at which the payments can be done. RBI said remitting I-T dues towards the end of December every year becomes too far heavy and makes difficult for it to cope with the pressure of issuing receipts despite opening additional counters to the maximum extent possible.
Encouraging I-T asseessees to pay their dues sufficiently in advance of the due date, RBI said the dues can be paid at RBI or at the authorised bank branches. Most of the agency banks designated to collect the dues also have online payment facilities to pay taxes. “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,” RBI said in a notification.
The 29 agency banks who are authorised to accept the payments of I-T dues are : SBI, ICICI Bank, HDFC Bank, Axis Bank, PNB , IDBI Bank, BoB, Canara Bank, Corporation Bank, BoI, Allahabad Bank, Andhra Bank and CBI.