Corp Bank starts I-T payment through ATMs


Finance SecretaryAshok Chawla,(lighting the lamp) & Corp Bank CMDJ M Garg (on his right) at launch event at New Delhi

The facility was formally launched by the Union Finance Secretary, Ashok Chawla at New Delhi on Tuesday in the presence of J M Garg, Chairman & Managing Director of Corporation Bank.

The process for tax payment is easy. CorpBank customers to avail this facility first need to register one time at their branch with the following details: name, address of the assessee, debit card number, PAN/TAN number, challan number, major head code, minor head code & sub head, if any. After registration a customer will have to go to any of CorpBank ATM, select ‘LIC / TAX Payment & Others” option in the Main Menu and has to select “Direct Tax Payment” option. Once all details are confirmed, the customer’s account will be debited and a message conveying, “transaction is successful” which will be displayed on the screen. ATMs will also generate an acknowledgement for the tax payment. The Taxpayer will also receive instantaneously e-mail with the tax paid details and the receipt on payment of his tax in the ATM.

“The idea behind this is to make income tax payment easier for individual tax-payers. It will also reduce dependence of our customers on accountants and income tax consultants. It will also improve tax compliance,” said Corporation Bank Chairman and MD Garg.

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