NEW DELHI, DDTCNews – To make it easier for the public, the public and private sectors in India are working together to launch a digital tax payment service or known as ePay.
Federal Bank Director Harsh Dugar hopes digital innovation will delight customers, increase the convenience of transactions and advance the banking business. According to him, this effort was made as a form of the federal bank’s commitment to technology.
“This is one of many digital initiatives, which are being invested in by banks, to facilitate transactions for our customers and bring flexibility to our business,” he said, quoted on Sunday (24/ 7/2022).
Also read: WP Vacant Land Assets Assessed, Tax Officers Dives into the Ground
As reported economictimes.indiatimes.comsetting up the digital payment service involved collaboration between Aluva-based private lenders, federal banks and the central direct tax board.
Application e-payment should help taxpayers make digital tax payments. Taxpayers can simply use the income tax portal instantly through various digital payment methods.
According to Dugar’s statement, the PPh payment method options available in e-payment including debit cards, credit cards, unified payment interface (UPI), net bankingcash, national electronic funds transfer (NEFT), real-time gross settlement (RTGS), and others.
Also Read: US Congress Asks Tax Authorities to Provide Free Tax Filing Apps
In order to simplify the payment process and avoid delays, digital payment does not stipulate registration or verification requirements permanent account number (STOVE)/tax deduction account number (TAN) for taxpayers.
Apart from payments, Indian taxpayers and domestic customers can also issue tax invoices through the features of the digital payment service. Thus, efficiency in complying with tax obligations can increase. (rigs)
Also Read: Maintaining Tax Compliance, This Fiscus Visit Frequency Increases 2x
“Zombie geek. Beer trailblazer. Avid bacon advocate. Extreme introvert. Unapologetic food evangelist. Internet lover. Twitter nerd.”
