Federal Bank, Kotak Mahindra Bank authorized to collect direct tax payments
July 21, 2022
Individuals can now pay their taxes instantaneously using any of their available payment methods, including debit/credit cards, UPI, net banking, cash, NEFT/RTGS, and so forth, according to a press release issued by the bank. NRIs, domestic customers, and any tax-paying citizen in India can produce a tax challan and pay it at any of the bank’s locations.
“The e-Filing website now offers e-Pay Tax service through two new Authorized Banks namely Kotak Mahindra Bank and Federal Bank in both pre-login and post-login mode. These two banks are currently accepting payments for taxes in both Over the Counter and Net Banking modes. Tax payment through NSDL website (Protean) is also available to taxpayers as per the existing process,” according to the Income Tax department.
Individuals and corporations can pay their direct taxes through the portal’s e-pay tax tab utilising Kotak Net Banking or by visiting a branch. This will make tax payment simple, quick, and convenient for its customers.
According to the bank press release, “In October 2021, Kotak Bank became the first Scheduled Private Sector Bank to receive approval as a collections partner for taxes, after the announcement to permit all banks to participate in government business. With the solution going live, the Bank continues to be the pioneering player offering this service in the private banking space.”