If you pay income tax online, make sure the bank where you have an account has changed or migrated its Tax payment facility route. This is because the new income tax e-filing portal has begun accepting tax payments through the service of e-Pay Tax window on its own portal. Customers of specific banks who have migrated to the system from the TIN NSDL website must now pay their income tax through the filing income tax portal.
According to the Central Board of Direct Taxes, many banks must transition from the OLTAS e-Payment of Taxes facility on the TIN NSDL website to the Direct Tax Payment System known as CPC 2.0-Teen TIN2.0 on the new income tax e-filing portal in terms of Direct Tax collection through banking and over the counter. The authorities have taken a positive step. It allows users to access the services through a single portal rather than having to switch to a different platform for tax payments. Individuals are now advised to use the new income tax portal’s e-Pay Tax feature to make direct tax payments if they are using specific banks.
The following banks have migrated to the new income tax portal and are no longer available for income tax payments through the NSDL portal:
a) Axis Bank
b) Central Bank of India
c) ICICI Bank
d) Indian Bank
e) Karur Vysya Bank
f) Bank of Maharashtra
g) Canara Bank
h) Indian Overseas Bank
i) Bank of India
j) Federal Bank
k) Kotak Mahindra Bank
Customers of banks may have been informed of this change. ICICI Bank did it by sending an SMS to its customers stating that the Income Tax Department had migrated the bank to the new information network version 2.04 for direct tax payment.
Benefits for taxpayers
The new income tax portal offers the same benefits as the NSDL window. For one thing, e-Pay Tax accepts a variety of payment methods, including debit cards, net banking, RTGS/NEFT, payment gateway (UPI, credit cards), and pay-at-bank counters, whereas the NSDL website only accepts net banking and debit ca
Disadvantages/taxation charges
However, some fees apply in certain circumstances when using e-Pay Tax. If an individual chooses to pay income tax via NEFT/RTGS and uses the payment gateway, transaction fees will apply. If a person chooses the Federal Bank payment gateway, 0.85% will be added if the payment is made by credit card and 5-12 if the payment is made through net banking. Such fees were not listed on the NSDL website.
Currently, the TIN NSDL website only accepts tax payments from certain banks.
If your bank has not yet switched to the new system, the income tax e-filing portal offers the option to pay through the NSDL window. It says to go to the NSDL (protein) tax payment page for other banks by clicking here.
The ones that are still available for payment via net banking on the TIN NSDL website are:
l) Bank of Baroda
m) HDFC Bank
n) IDBI Bank
o) Jammu & Kashmir Bank
p) Punjab and Sind Bank
q) Punjab National Bank
r) State Bank of India
s) UCO Bank
t) Union Bank of India
The TIN NSDL website also allows payment of taxes via a debit card through these four banks:
a) Bank of Baroda
b) HDFC Bank
c) Punjab National Bank
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