Federal Bank, CBDT in pact for new online tax payment

CHENNAI: Federal Bank has launched its new online tax payment service in partnership with the Central Board of Direct Taxes (CBDT). The company said, “On the back of strong Q1 results for FY-23, Federal Bank partners 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. “Anyone can now pay their taxes instantly via any of their payment modes such as debit/credit card, UPI, net banking, cash, NEFT/RTGS. 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 government approval for collection of direct tax last financial year and it has been effective since July 1 this year.