Federal Bank partnered with the Central Board of direct taxes to assist taxpayers in making their payments via the e-pay tax facility in the e-filing portal of the income tax. Customers can now pay their taxes instantly via any of their payment modes such as debit/credit card, UPI, net banking, cash, NEFT/RTGS etc. NRIs and domestic customers of the bank, as well as any tax-paying citizen in India can generate a tax challan and make the payment through the bank’s branches.
The bank had received approval from Government of India for collection of Direct Tax last financial year and has been made effective since 1st July 2022. There is no requirement of PAN/TAN registration/verification for taxpayers, and it takes away any delay in payment of tax.
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