May 14, 2014 9:55 AM

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RBI authorizes 29 banks to accept payments of IT dues

RBI has authorized 29 banks to accept payments of Income Tax dues. In a press release issued from Mumbai, RBI appealed to tax payers to remit their income tax dues sufficiently in advance of the due date. In order to minimize the hassle, tax payers can also use the facility of online payment or use alternate channels like the authorized agency banks. RBI has taken this measure as the rush for remitting Income Tax dues becomes far too heavy towards the end of June every year making it difficult for the Reserve Bank to cope with the pressure.

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