Federal Bank launches online tax payment service

The Aluva-based private lender Federal Bank has, in association with the Central Board of Direct Taxes (CBDT) launched an online tax payment service on Wednesday.
Online/ e-pay tax facility will help taxpayers in making their tax payments online by using income tax portal, instantly via any online payment modes such as Debit/Credit Card, UPI, Net banking, cash, NEFT/RTGS etc., the Bank said in a statement.

The tax-paying citizens in India, NRIs and domestic customers can generate a tax challan and make the payment through their bank branches. To make payments easy and avoid delays at first there is no requirement for PAN/TAN registration or verification for taxpayers, the statement said.

Federal Bank country head (wholesale banking) Harsh Dugar said: "These are among a slew of digital initiatives, being invested into by the bank, to delight our clients with ease of transaction and bring agility to our business. We see it as a reinforcement of our commitment to being Digital at the Fore and Human at the core,” he added.

The government approved the collection of direct taxes last financial year but it came into force on July 1 this year. The Federal Bank became one of the pioneers to be registered under the TIN 2.0 platform of the Income Tax Department with this partnership, the statement said.