Business Desk BeyondHeadlines
India’s fifth largest bank Union Bank of India has launched direct tax payment facility through its more than 2000 ATMs.
Launching the income tax payment facility through UBI’s ATMs State Finance Minister Namo Narain Meena said that this facility will bring small individual taxpayers under the ambit of e-payment of direct taxes, which was earlier beneficial for large corporate only.
“The coming together of CBDT and Union bank of India to provide ATM based payment of income tax is an excellent facility for the common people to pay tax. We have more than forty thousand ATMs deployed in the country. Income tax payment through authorized bank’s ATM would go a long way in bringing common citizens with in the fold of e-payment of taxes and this payment will not cause any charge”, said Namo Narain Meena.Union Bank of India M.V.Nair believe that payment of income tax through ATM is yet another fulfillment of the brand promise of the Bank to provide choice of channel to customers for undertaking various transactions.
“Today’s program is partnership between revenue department and a large bank like UBI for the convenience of millions of taxpayers and customers”, said MV Nair.
After one time registration at bank’s portal, customers will be able to make their income tax payments on ATMs. They will be able to generate their challan on Bank’s portal. Registration for Income tax payment will also be extended through the UBI branches.
Presently UBI has a network of around 2600 ATMs and by March 2012 it is aiming to have a network of 5000 ATMs.