IDFC FIRST Bank has been authorized by the Government of India and the Reserve Bank of India (RBI) to collect Direct Taxes on behalf of the Central Board of Direct Taxes (CBDT). This new integration with the Income Tax Portal allows the bank’s customers to enjoy a hassle-free experience for paying their Direct Taxes.
The bank provides an intuitive platform for tax payments, offering features like easy access to downloadable challans, straightforward payment processes, and instant payment confirmations. Customers can now pay their taxes conveniently using IDFC FIRST Bank’s online and offline channels.
IDFC FIRST Tax Collection
IDFC FIRST Bank customers can pay their Direct Taxes through its user-friendly Retail and Corporate Internet Banking platforms. Alternatively, they can visit any IDFC FIRST Bank branch to make payments using cash, cheque, or demand draft.
Chinmay Dhoble, Country Head – Retail Liabilities at IDFC FIRST Bank, shared his thoughts on this development: “We are proud to be a Universal Bank offering a full suite of products and services. With this approval from the CBDT, Government of India, and RBI, we are now equipped to collect Direct Taxes, which was a significant addition to our services.
“Our high-quality internet banking services now include customer-friendly interfaces for tax payments. We encourage our customers to take advantage of this facility for a seamless and convenient tax payment experience,” he added.
Future Enhancements in Tax Payment Options
To further simplify the tax payment process, IDFC FIRST Bank is collaborating with CBDT officials to introduce additional payment options. These will include Unified Payments Interface (UPI) and card payments, making the service even more accessible and versatile for its customers.
This initiative aligns with IDFC FIRST Bank’s goal of becoming a comprehensive Universal Bank. By adding Direct Tax collection to its portfolio, the bank is strengthening its commitment to providing a complete range of financial services to its customers.
The integration with the Income Tax Portal not only enhances the bank’s service offerings but also supports the government’s vision of digitalizing financial processes and making tax payments more efficient.
