NEWS & ADVICE : FIXED DEPOSITS
To avoid rush at last hour 29 bank branches to collect income tax in advance : RBI
By Neelima Shankar
Nov 19, 2013
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The apex bank in India had recently chosen twenty nine bank branches for the collection of income tax returns before the due date. These bank branches include both public sector as well as private sector banks. This step has been taken to reduce rush at the last hour i.e. towards the end of March. The RBI release that informed about this also mentioned that tax payers may adopt alternative method of online payment to avoid rush and long queues at RBI counters.

Among the banks that have been selected for this purpose are State Bank of India, Oriental Bank of Commerce, Punjab National Bank, Bank of Baroda, Allahabad Bank, Canara Bank, Indian Bank, IDBI Bank, Punjab and Sind Bank, Bank of India, Dena Bank, Bank of Maharashtra, Vijaya Bank, Andhra Bank, United Bank of India, UCO Bank and some other banks are among the public sector banks. The private banks that have been chosen for this purpose include HDFC Bank, ICICI Bank and Axis Bank.


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