Axis Bank launches income tax payment facility at ATMs

Written by: Pti
Subscribe to Oneindia News

Mumbai, Feb 25 (PTI) Private sector Axis Bank todayannounced the launch of the facility to pay income tax atATMs.

This facility, initially, will be available at selectATMs in the major centres and will shortly be made availableat all 5,600-plus ATMs across the country, the bank said in apress release issued here.

Axis Bank customers holding ATM/debit cards can use thisfacility to pay income tax/other direct taxes using Axis BankATMs.

The Central Board of Direct Taxes (CBDT), as a part ofits e-Governance initiative to provide more convenience totaxpayers, had advised authorised banks to roll-out thefacility to pay tax using ATMs. Axis Bank is the first privatesector bank to make this facility available for its largetax-paying customer base.

Axis Bank''s Executive Director-Corporate Banking, VSrinivasan, said, "there is a vast segment of retail tax-payers who do not have internet-enabled bank accounts andare thus unable to pay income tax on-line. Axis Bank with itsvast ATM network will now be able to cater to these retailassesses who account for a substantial portion of all incometax payers."

This provision will ensure immediate credit of taxes paidto the Government account and is expected to not only improvecompliance on part of taxpayer but also substantially reducepaper handling of challans by the banks.

The facility will not only make income tax payment easierand simpler for the individual tax payers but also providethem the convenience of making the payment 24-hours a day--365days a year, the release said.

Please Wait while comments are loading...