NEWS & ADVICE : FIXED DEPOSITS
Advance tax collection to take place via 926 bank branches
By Neelima Shankar
Nov 11, 2011
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Payment of advance income tax has been made a lot hassle free for taxpayers in Mumbai and Navi Mumbai. As many as 926 branches of both public as well as private sector lenders in the area will now act as authorized receiving counters for advance income tax.

862 of these branches are of public sector nature and the remaining from private sector banks.

"The arrangements have been made for the convenience of the income-tax assesses. The RBI has advised income-tax assesses to take advantage of the standing arrangements made for their convenience," RBI said in a release.

"Long queues and inconveniences can be avoided at the RBI counters if the assessees in Mumbai and Navi Mumbai utilise the services at various designated branches of banks and deposit their income-tax dues well in advance of the last date," it added.


 


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