RBI permits 926 branches of banks to accept advance income tax

            To make it convenient for the income tax assessees, the Reserve Bank of India today allowed 926 branches of public and private banks to collect advance income tax in Mumbai and Navi Mumbai.


             Till now, only RBI used to collect advance income taxes. Of the 926 branches, 862 branches of public sector banks, 35 of HDFC Bank, 10 of ICICI and 19 of AXIS Bank, RBI Assistant Manager J D Desai said in a statement here.

            The step has been taken for the convenience of the assessees in Mumbai and Navi Mumbai, so that they could utilise the services being made available at various designated branches of the authorised banks, he added.

            Mumbai, being headquarters of many corporates, gets the largest chunk of advance income tax.
source:ET