RBI has authorised 29 agency banks to accept payments of Income Tax dues as recently Reserve Bank of India has asked income tax assessees to pay their tax dues well in advance to avoid last minute rush. 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.
So 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. Some of the agency banks authorized by RBI to collect tax include Allahabad Bank, UCO Bank, Bank of India, Canara Bank, State Bank of India and its five associate banks , Central Bank of India, Dena Bank, HDFC Bank Ltd, Oriental Bank of Commerce, Axis Bank Ltd, ICICI Bank and Punjab National Bank.
So let’s discuss some questions related to this post :
1. Total how many agency bank have got authority to accept payments of I-T dues ?
2. Name the organization which has given the authority to agency banks to accept payments of Income Tax ?
Courtesy : DD News