Federal Bank has partnered with the Central Board of Direct Taxes to assist taxpayers pay through the e-pay tax facility in the e-filing portal.
Anyone can now pay taxes instantly through modes such as Debit/Credit Card, UPI, Net banking, cash, NEFT/RTGS etc. The NRIs, domestic customers and any tax-paying citizen can generate tax challan and make payments through the bank’s branches.
The Bank had received approval from the Centre for direct tax collection last financial year and made effective since July 1. In a first, there is no requirement of PAN/TAN registration/verification for taxpayers and it takes away any delay in payment of tax. With this partnership, Federal Bank becomes one of the pioneers to be registered under Tin 2.0 platform of Income Tax Department.
Harsh Dugar, Group President and Country Head – Wholesale Banking, Federal Bank, said “this will facilitate easy tax payments for our customers who can use any of our payment modes and non-customers can pay via counter mode at our branches. With slew of digital initiatives, the bank helps clientele with ease of transaction thereby bringing agility to our business. We see it as a reinforcement of our commitment to being digital at the fore and human at the core.“