RBI asks taxpayers to pay dues in advance

MUMBAI, MAY 16: The Reserve Bank of India (RBI) has issued counseling for Taxpayers, making a request to pay their due well on time to avoid the last-minute rush, On Monday.

While coming to Point, The central bank said in a Statement that it is observed that the rush for Paying income tax dues through the RBI has been far too heavy towards the end of June every year.

The taxpayers are required to wait in queues unnecessarily for long periods, the apex bank said, adding this happens despite providing Extra counters to the maximum extent feasible for the reason.

The RBI said 'To obviate the inconvenience involved, assesses are advised to avoid last minute rush by remitting their income tax dues sufficiently in advance of the due date.'

It added They are providing 29 selected branches banks at Mumbai, Taxes can be paid at them and these banks have also provided facilities for online payment of dues.

'The assesses may take advantage of these arrangements for their convenience,' the central bank said.

15th June is The due date for the first installment of advance tax for the assessment year 2018-19. 30th June is The due date for filing return in respect of securities transaction tax for the financial year 2016-17.

While The due date for filing annual return of income for the assessment year 2017-18 for all assessees other than corporates and partnership firms is on 31st
July.