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

Category : Business and economics
Published on: August 08 2022 Share on facebook

  • 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.
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