RBI & 926 bank branches to collect advance income tax

The Reserve Bank and 926 branches of public and private banks will accept advance income tax in Mumbai and Navi Mumbai to avoid long queues and inconvenience to the tax assesses, RBI said on Monday.

"As many as 926 computerised branches of public and private sector banks will receive...These arrangements have been made for the convenience of the income tax assesses," RBI said in a statement.

Of the 926 bank branches 862 branches are public bank branches, 35 HDFC bank branches, 10 ICICI bank branches and 19 Axis bank branches.

"The Reserve Bank of India has advised income tax assesses to take advantage of these standing arrangements made for their convenience," the statement said.

RBI has asked the tax assesses to utilise the services being made available at various designated branches of banks, and deposit income tax dues well in advance of the last date. (PTI)