Axis Bank launches Income Tax Payment facility at ATMs

Axis Bank, India?s third largest private bank, on Friday announced the launch of the facility to pay Income Tax at ATMs.

This facility, initially, will be available at select ATMs in the major centers and will shortly be made available at all 5,600 plus ATMs across the country, said the bank.

Axis Bank customers holding ATM/ Debit Cards can use this facility to pay Income Tax/ Other Direct Taxes using Axis Bank ATMs.

The Central Board of Direct Taxes (CBDT), as a part of its e-Governance Initiative to provide more convenience to the taxpayers had advised authorized Banks to roll out the facility to pay Tax using ATMs.

Axis Bank claimed to be the first private sector bank to make this facility available for its large tax-paying customer base.

V. Srinivasan, Executive Director – Corporate Banking, Axis Bank said, “It is mandatory for corporates to pay income tax on-line through internet, while the retail assesses prefer paying taxes physically through challan deposit at authorized Branches.?

?Axis Bank is already among the top Banks handling collection of Income/ Other Direct Taxes through its Branches as well as on-line through internet banking. There also is a vast segment of retail taxpayers who do not have internet enabled Bank accounts and are thus unable to pay income tax on-line.

?Axis Bank with its vast ATM network will now be able to cater to these retail assesses who account for a substantial portion of all income tax payers,? he said.