926 private, PSU bank branches to collect advance tax

With a view to avoid inconvenience to taxpayers, a total of 926 branches of public and private sector banks in the Mumbai and Navi Mumbai areas have been authorised to receive advance income tax.

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

"The arrangements have been made for the convenience of the income-tax assesses. The RBI has advised income-tax assesses to take advantage of the standing arrangements made for their convenience," the release said.

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