RBI authorizes some nationalized and private sector banks to collect income tax

Seeing the increasing rush of income tax payers this year the Reserve Bank of India (RBI) has increased the number of counters as well as authorized nationalized and private sector banks of the city to collect income tax.

Deputy General Manager banking Rajeev Dwivedi told that this year 144 branches of public sector banks including State Bank of India and four branches of private sector banks have been authorized to collect income tax returns and make arrangements for collecting tax by way of cash or cheque. He added, for the convenience of public the list of banks and their branches have been displayed outside the premises of RBI and also at branches of other commercial banks.

He said, at times there has been increase in the income tax payers at RBI counters, thus keeping it in mind additional counters as necessary have been opened in the bank. On the other hand the income tax payers have been asked to deposit their income tax dues in advance well before the last date to avoid inconvenience.

The general manager has advised the masses to take advantage of the above arrangements.