RBI allows 926 more banks to collect advance tax- Business News
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More banks to collect income tax

A total of 926 computerised branches of various public and private sector banks have been allowed to receive advance income tax in Mumbai and Navi Mumbai.

 PTI   
  • Mumbai,  November 17, 2010  
  • |  
  • UPDATED   13:38 IST

In a measure intended for convenience of public, a total of 926 computerised branches of various public and private sector banks have been allowed to receive advance income tax in Mumbai and Navi Mumbai.

Of the 926 bank branches, 862 are of various public sector banks, 35 of HDFC, 10 of ICICI and 19 of Axis Bank, the Reserve Bank of India said in a release.

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