Date : Nov 02, 2016 Pay IT dues in advance at RBI or at authorised bank branches – December 2016
The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. 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 December 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. Most of these banks are also providing facilities for on-line payment of taxes.
Twenty-nine agency banks are authorised to accept payments of Income Tax dues. These are:
| 1. | Allahabad Bank | 16. | Syndicate Bank |
| 2. | Andhra Bank | 17. | UCO Bank |
| 3. | Bank of Baroda | 18. | Union Bank of India |
| 4. | Bank of India | 19. | United Bank of India |
| 5. | Bank of Maharashtra | 20. | Vijaya Bank |
| 6. | Canara Bank | 21. | State Bank of India |
| 7. | Central Bank of India | 22. | State Bank of Bikaner & Jaipur |
| 8. | Corporation Bank | 23. | State Bank of Hyderabad |
| 9. | Dena Bank | 24. | State Bank of Travancore |
| 10. | IDBI Bank | 25. | State Bank of Mysore |
| 11. | Indian Bank | 26. | State Bank of Patiala |
| 12. | Indian Overseas Bank | 27. | HDFC Bank Ltd. |
| 13. | Oriental Bank of Commerce | 28. | Axis Bank Ltd. |
| 14. | Punjab & Sindh Bank | 29. | ICICI Bank Ltd. |
| 15. | Punjab National Bank |
Ajit Prasad
Assistant Adviser
Press Release : 2016-2017/1087
(Republished by replacing the earlier press release on the same subject)
If a bank denies to collect the Tax or TDS and says its our internal policy that the person remitting the tax should be a authorised signatory how to overcome the situation.
Welcome step. Many people are ignorant of this.