Pay Advance Income Tax at RBI or at authorised bank

By | November 3, 2016
(Last Updated On: November 3, 2016)

Pay IT dues in advance at RBI or at authorised bank branches – December 2016

Date : Nov 02, 2016

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 December 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. Most of these banks are also providing facilities for on-line payment of taxes.

Twenty-nine agency banks are authorised to accept payments of Income Tax dues. These are:

1.Allahabad Bank16.Syndicate Bank
2.Andhra Bank17.UCO Bank
3.Bank of Baroda18.Union Bank of India
4.Bank of India19.United Bank of India
5.Bank of Maharashtra20.Vijaya Bank
6.Canara Bank21.State Bank of India
7.Central Bank of India22.State Bank of Bikaner & Jaipur
8.Corporation Bank23.State Bank of Hyderabad
9.Dena Bank24.State Bank of Travancore
10.IDBI Bank25.State Bank of Mysore
11.Indian Bank26.State Bank of Patiala
12.Indian Overseas Bank27.HDFC Bank Ltd.
13.Oriental Bank of Commerce28.Axis Bank Ltd.
14.Punjab & Sindh Bank29.ICICI Bank Ltd.
15.Punjab National Bank


Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/1087

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