These banks are not on NSDL portal anymore for tax payments; details here

FP Trending • November 18, 2022, 12:13:22 IST

Customers should have been made aware of this modification by banks via email or SMS. People who are paying their taxes with certain banks are now recommended to go to e-Pay Tax on the new income tax portal to make direct tax payments

These banks are not on NSDL portal anymore for tax payments; details here

Customers can now pay their income taxes through a newly-launched online portal, the e-Pay Tax window. The portal has been made accessible to make income tax filing easier. Customers of certain banks who switched from the TIN NSDL website to this method will now need to go to the e-filing income tax portal to make their tax payments. With regard to the collection of direct tax through internet banking and over the counter, many banks have been directed by the Central Board of Direct Taxes (CBDT) to shift from the OLTAS e-Payment of Taxes facility on the TIN NSDL website to the fresh Direct Tax Payment System named CPC 2.0 - TIN 2.0 on the new income tax e-filing portal.

A number of lenders including Axis Bank, Central Bank of India, ICICI Bank, Indian Bank, Karur Vysya Bank, Bank of Maharashtra, Canara Bank, Indian Overseas Bank, Bank of India, Federal Bank, and Kotak Mahindra Bank have moved to the new income tax portal and are no longer accessible on the NSDL portal for income tax payments.

People who are paying their taxes with certain banks are now recommended to go to e-Pay Tax on the new income tax portal to make direct tax payments. Customers should have been made aware of this modification by banks via email or SMS.

Advantages and disadvantages of the new income tax portal:

Compared to the NSDL window, the new income tax portal has a number of benefits. Debit cards, net banking, RTGS/NEFT, online payment gateways such as UPI, credit cards and pay-at-bank counters are just a few of the numerous payment methods that e-Pay Tax allows. On the other hand, only net banking and debit cards are permitted to make payments on the NSDL website.

Although, there are some charges associated with using e-Pay Tax in some situations. If a person chooses to pay his income tax by NEFT/RTGS and makes use of the payment gateway, transaction fees will be applied. If a person chooses the Federal Bank payment gateway, an additional 0.85 percent will be charged for credit card payments and Rs 5–12 for net banking transactions. Such fees were not applicable while paying on the NSDL website.

Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .