The central bank has designated 29 banks including, SBI and its subsidiaries, Punjab National Bank, ICICI Bank, HDFC Bank, Axis Bank, Bank of Baroda, Bank of India and Canara Bank to accept I-T payments from taxpayers
The Reserve Bank of India (RBI) has designated 29 banks both from the public and private sector as agency banks to accept payments of income-tax dues from taxpayers.
The central bank also appealed income-tax (I-T) assessees to pay their tax dues well before the due date to avoid the March-end rush seen every year.
The designated banks include State Bank of India (SBI) and its subsidiaries, Punjab National Bank, ICICI Bank, HDFC Bank, Axis Bank, Bank of Baroda, Bank of India and Canara Bank.
The central bank has asked I-T assessees to remit their dues sufficiently in advance of the due date by using alternate channels like select branches of agency banks or the online tax payment facility offered by these banks. These will obviate the inconvenience of standing in long queues at Reserve Bank offices, the central bank said.
The central bank was finding it difficult to meet the rush for remitting income-tax dues at the end of March every year although additional counters were being provided to the extent possible.
Other agency banks include Allahabad Bank, Andhra Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sindh Bank, Syndicate Bank, UCO Bank, United Bank of India and Vijaya Bank.
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