Pay Income Tax Dues For June In Advance To Beat Rush: RBI
June, 09th 2016
Reserve Bank on Wednesday asked income tax assessees to pay their taxes well in advance to avoid any rush towards June-end.
It has been observed that rush for remitting tax dues at the Reserve Bank of India and other banks authorised to collect income tax towards the end of March, June, September and December is heavy, RBI said in a release.
RBI's logic is it becomes difficult for it to cope with the pressure of receipts although additional counters have been provided for the purpose.
At times, the public is required to wait in queues at the Reserve Bank for long.
"To obviate the inconvenience involved, assessees in the city are advised in their own interest to avoid last-minute rush by remitting their income tax dues sufficiently in advance of the due date," RBI added.
RBI also informed the public that branches of State Bank of India and its associates and all public sector banks can collect such dues.
Besides, select private banks like HDFC Bank, ICICI Bank , Axis Bank, IDBI Bank and J&K Bank in Delhi are also authorized to accept payment in cash or by cheque.
The I-T assessees also have the provision of making online payment of income tax.