Federal Bank Becomes the First Bank to List its 'Payment Gateway' on the New Tax Platform

Daily Current Affairs / Federal Bank Becomes the First Bank to List its 'Payment Gateway' on the New Tax Platform

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Category : Business and economics Published on: August 08 2022

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Kerala-based Federal Bank has become the first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department.
The TIN 2.0 platform went live on July 1 this year and the "Payment Gateway" has been enabled, providing one more payment option to taxpayers, who can now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking.
Federal Bank in July partnered with the Central Board of Direct Taxes (CBDT) to assist taxpayers in making their payments through the e-pay tax facility in the e-filing portal of the income tax.
The bank also received the government’s approval to collect direct tax during the past financial year and has been made effective since July 1, 2022.