RBI Makes Provisions for Accepting Payments of Income Tax Dues

The Reserve Bank of India (RBI) in its Press Release on February 16, 2016 has stated 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 although additional counters to the maximum extent possible are provided for the purpose it becomes difficult for the Reserve Bank to cope with the pressure of issuing receipts.

Therefore, the RBI has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. The 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.

The RBI has for this purpose authorized twenty-nine agency banks to accept payments of Income Tax dues.

[Press Release: 2016-2017/2208]

URL: https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR2208E97DC6009DBF4AF391FCC7097180E141.PDF