Karnataka Bank facilitates direct tax payments for customers

Karnataka Bank has expanded its services by enabling customers to make payments for Direct Taxes, including Income Tax and Advance Tax. The bank, already facilitating online remittance for Customs Duty and Goods and Service Taxes Payments, has added Direct Taxes to its suite of offerings.

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This development follows the authorization granted to Karnataka Bank by the Reserve Bank of India based on the recommendation of the Controller General of Accounts, Ministry of Finance. The bank is now authorised for the collection of Direct and Indirect Taxes on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).

Shri Srikrishnan H, Managing Director & CEO of the Bank said “Karnataka Bank is actively engaged in Government businesses. The Bank has formally launched collections of Direct Taxes (Income Tax/ Advance Tax) now whereby all of our customers can pay Direct Taxes (Income Tax/ Advance Tax) at their convenience through Internet Banking facility or through any Branch of Karnataka Bank with multiple payment option of Cash/Transfer/Clearing modes within the limits prescribed by the CBDT. This is the beginning of our journey to undertake Govt business that will expand to other Central and State Govt Departments and our digital participation in India stack and the newly developed OCEN & ONDC platforms” 

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The shares were down 0.66 per cent to ₹234.30 at 2.10 pm on the BSE.

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