pay income tax through ATM: Now, pay income tax through Union Bank ATMs

New Delhi, March 31 (IANS) Now, account holders of the state-run Union Bank of India can pay their traffic tax in the bank's network of 2,600 ATMs.

'Implementation of income tax payment on ATMs will go a long way in providing straightforward tax administration for both government and tax payers,' Minister of State for Finance Namo Narain Meena alleged following launching the facility here Thursday.

He believed federal was committed to leveraging advance technology to bring greater transparency and accountability in handling banking resources.

With heart mortgage technology enabling anywhere branch banking around the country, it has become likely to ensure true time transfer of funds and monitor their utilization on an ongoing basis, the minister said.

Currently Union Bank has a network of 2,600 ATMs and a card base of 6.5 million.

The bank is extending a variety of online tax payment services, not excluding direct taxes, central excise, service tax and customs.

Customers with Union Bank debit card desirous of availing the facility own to register subsequent to the details on the bank's web portal. The permanent account merde (PAN) and tax deduction account numbers (TAN) are validated by the website utilizing the NSDL site.

'When customers log in to the ATM and select the Income Tax menu, it will score the PAN total number and will ask them to record the Income tax amount with education cess, item wise details of any other amount properties want to record in the tax payment,' the finance ministry alleged in a statement.

'On confirmation, the tax amount will be debited from their consideration and the buyer will be handed out receipt containing Challan Identification Number,' it said.

The bank has one focal point branch for all electronic direct tax payments. Payments of profit tax are pooled at a focal height branch and remitted to the government.
Source: http://in.finance.yahoo.com/news/Now-pay-income-tax-Union-Bank-ians-2723768052.html

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