The Reserve Bank of India has appealed the income tax assessees to pay all their pending tax dues in a given deadline in order to avoid rush or any applicable penalty. At present, RBI has functioning with 29 banks that facilitate the taxpayers to pay off their income tax advances at the local branch.
RBI has also made it clear that the assessees may also take the help of alternative channels like online payment and selected branches of the bank to manage their taxes in a hassle free manner.
According to the official statement released by RBI, “It is observed that the rush for remitting Income-Tax (I-T) dues through the Reserve Bank has been far too heavy towards the end of June every year and it becomes difficult for the RBI to cope with the pressure of issuing receipts although additional counters to the maximum extent possible are provided for the purpose.”
The participating banks that facilitate the assessees to pay off their income tax dues are: the State Bank of India authorized branches including its five associate banks, ICICI Bank, Axis Bank, HDFC Bank, Punjab National Bank, 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 and Canara Bank.
The additional participating PSU and undertaking banks are Oriental Bank of Commerce, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank and Indian Overseas Bank.
