RBI allows 926 bank branches to receive advance income tax

For hassle free income tax collection, the Reserve Bank of India (RBI) designated a total of 926 computerised branches of public and private sector banks to receive advance income tax for people residing in Mumbai and Navi Mumbai.

"These arrangements have been made for the convenience of the income tax assessees," RBI said.

Of the total of 926 bank branches, 862 are that of public sector lenders, while the rest are of private sector banks, including HDFC, ICICI and Axis Bank.

Long queues and inconveniences can be avoided at the RBI counters, if the assessees in Mumbai and Navi Mumbai utilize the services being made available at various designated branches of the banks, and deposit their income tax dues well in advance of the last date, the RBI statement said.