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        Case ID :

        Pay IT dues in advance at RBI or at authorised bank branches

        August 13, 2015

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        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 September 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.

        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

         

         

        Advance income tax payment urged via authorised banks or online channels to avoid end period payment congestion. The Reserve Bank of India advises income-tax assessees to make advance tax payments through authorised channels, including online facilities offered by banks, to reduce end of period congestion. Twenty-nine agency banks are authorised to accept income-tax payments at select branches, providing an alternative to in-person payment at Reserve Bank counters and mitigating receipt-issuance delays.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Advance income tax payment urged via authorised banks or online channels to avoid end period payment congestion.

                                The Reserve Bank of India advises income-tax assessees to make advance tax payments through authorised channels, including online facilities offered by banks, to reduce end of period congestion. Twenty-nine agency banks are authorised to accept income-tax payments at select branches, providing an alternative to in-person payment at Reserve Bank counters and mitigating receipt-issuance delays.





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                                Topics

                                ActsIncome Tax
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