Government of India (GOI) and RBI authorises IDFC FIRST Bank for the collection of Direct taxes.
Mumbai: IDFC FIRST Bank announced its integration
with Income Tax Portal to collect Direct Tax on behalf of Central Board of
Direct Taxes (CBDT), Government of India. The Bank’s customers can now benefit
from an intuitive, hassle-free payment experience for paying their Direct
Taxes, with easy access to downloadable challans, easy payments and instant
payment confirmations.
The Bank’s customers
can use the user-friendly Retail and Corporate Internet Banking platforms of
IDFC FIRST Bank, or pay the taxes at any IDFC FIRST Bank branch using Cash,
Cheque or Demand Draft.
Speaking on the
development, Mr. Chinmay Dhoble, Country Head – Retail Liabilities at IDFC
FIRST Bank,
said, “We are a Universal Bank and are building a complete suite of products
and services to represent Universal Banking. Payment of Income Tax and GST were
the only two significant services that were lacking in our proposition. We are
delighted that with the approval of CBDT, Government of India and the RBI, we
are now authorised to collect taxes on behalf of CBDT, GOI.
In line with our
high-quality internet banking services, we have built customer friendly
interfaces for ease of our customers. We encourage our customers to use this
facility to easily pay their Direct Taxes through IDFC FIRST Bank’s online and
branch channels”.
Steps
to Pay Direct Taxes Using IDFC FIRST Bank Internet Banking:
- Log
in to the CBDT portal: https://eportal.incometax.gov.in/iec/foservices/#/login
- Create
a Challan and select E-Payment via Net Banking
- Choose
IDFC FIRST Bank as the payment option
- Complete
the payment and download the tax paid challan
Additionally, IDFC
FIRST Bank is working with CBDT officials to introduce more payment options,
including UPI and card payments.
For more
information, please visit www.idfcfirstbank.com.
About IDFC
FIRST Bank
Vision:
IDFC FIRST Bank is building a world-class bank in India,
guided by four core principles: Ethical Banking, Customer-Friendly Banking, Digital
Banking, and Social Good Banking.
IDFC FIRST Bank was created by the
merger of infrastructure financing Giant IDFC Bank and retail financing
specialist Capital First in December 2018. Earlier, IDFC Bank launched
commercial Banking operations in 2016.
“Universal”
Bank: IDFC FIRST Bank offers products and
services across all segments including Retail, MSME, Rural, startups, Corporate
Banking, Cash Management, Wealth Management, Retail Deposits, Government
Banking, Working Capital, Trade Finance, and Treasury solutions.
Ethical Banking: The Bank follows a
"Near and Dear" test to ensure that all products are so friendly that
the employees can confidently recommend to their loved ones. The Bank holds the
belief that income earned unethically is not worth earning. The bank is committed
to doing right by customers, even when no one is watching.
In line
with the above, the Bank has simplified descriptions, calculations, and legal
jargon to avoid confusing customers. The Bank offers zero fees on most services
in savings accounts, such as SMS alerts, IMPS, RTGS, NEFT, cash deposits,
non-home branch access, ATM and branch cash withdrawals, third-party
transactions, cheque books, demand drafts, pay orders, duplicate statements,
and other commonly charged services. It is the first and only bank in
India till date to do so.
Customer
Friendly Banking: IDFC FIRST Bank provides monthly interest
credit on savings accounts. In credit cards, the Bank offers lifetime free cards
without minimum spend conditions, rewards points that do not expire, zero
interest on cash withdrawal at ATMs and dynamic low APR. Fees, if applicable
are transparent and clearly described for easy understanding. We love making
great products that customer love to have.
Technology
led banking: The Bank has built a modern technology stack which has
enabled the Bank to offer our customers an advanced mobile banking app with 250
features. It has a high rating of 4.8 on Google Playstore and Appstore.
FORRESTER the internationally renowned rating entity has rated the app the best
in India and among the top 20 apps in the world for two years in a row.
The advanced technology stack has
also enabled us to offer high quality service across all channels including
mobile banking, branch, internet banking, Call Centre, Relationship Managers,
and all other channels.
Social
Good Banking: The Bank’s business is
inherently designed to promote financial inclusion while maintaining
consistently high asset quality. The Bank has financed over 40 million
customers, including 16 million lifestyle improvement loans for laptops,
washing machines and such purposes, 15 million loans to 4.3 million women
entrepreneurs, 6.5 million loans for two-wheelers and cars, 1 million
sanitation loans for toilets, water fittings etc., 1 million livelihood loans for
cattle, 3,00,000 SME loans and 1,00,000 Home loans.
ESG
Goals: The Bank is incorporating ESG in every aspect of
working and has high ESG scores. The Bank believes that to get an
opportunity to create a new age, ethical and world class Bank for India is a
great privilege for its employees.