1. Pay IT dues in advance to avoid last-minute rush, advises RBI

Pay IT dues in advance to avoid last-minute rush, advises RBI

It has said that last minute rush for paying tax creates problems for both the RBI and the public. “To obviate the inconvenience involved, assessees are advised in their own interest to avoid last minute rush by remitting their Income tax dues sufficiently in advance of the due date,” an RBI release has said.

By: | Published: June 8, 2016 5:59 PM
Income Tax Act, Income Tax laws in india, Income Tax payers, Global Energy Limited Branches of State Bank of India and its associates, all public sector banks and select private banks namely HDFC Bank Ltd., ICICI Bank Ltd, AXIS Bank Ltd, IDBI Bank Ltd and J & K Bank Ltd at Delhi/ New Delhi are also authorised to accept payment of Income Tax dues in cash or by cheque.

The Reserve Bank of India has asked tax-payers to remit their income-tax dues in advance to minimise inconvenience.

It has said that last minute rush for paying tax creates problems for both the RBI and the public. “To obviate the inconvenience involved, assessees are advised in their own interest to avoid last minute rush by remitting their Income tax dues sufficiently in advance of the due date,” an RBI release has said.

It has said that there is heavy rush for remitting income-tax dues at the RBI and other banks authorised to collect income tax towards the end of March, June, September, December.

“It becomes difficult for the Reserve Bank to cope up with the pressure of receipts although additional counters to the maximum extent possible are provided for the purpose. Consequently, the public is required to wait in queues in the Reserve Bank for long periods,” RBI has said.

Branches of State Bank of India and its associates, all public sector banks and select private banks namely HDFC Bank Ltd., ICICI Bank Ltd, AXIS Bank Ltd, IDBI Bank Ltd and J & K Bank Ltd at Delhi/ New Delhi are also authorised to accept payment of Income Tax dues in cash or by cheque. Also, there is provision for making online payment of Income tax at http://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp.

Tags: RBI
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