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RBI advises taxpayers to pay dues on time

Due date for the first installment of advance tax for the assessment year 2018-19 is June 15

Press Trust of India  |  Mumbai 

RBI, reserve bank of India
The Reserve Bank of India (RBI), India's central banking institution

The Reserve today issued an advisory asking taxpayers to pay their dues well on time to avoid the last-minute rush.

The central said in a statement that, it is observing the rush for remitting dues through the has been far too heavy towards the end of June every year.

Consequently, the people are required to wait in queues for long periods unnecessarily, the apex said, adding this happens despite providing additional counters to the maximum extent possible for the purpose.

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

In addition, taxes can be paid at select branches of 29 banks at and a large number of these banks have also provided facilities for of dues, it added.

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

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

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

First Published: Tue, May 16 2017. 01:43 IST