If you are an Axis Bank Ltd customer and you don’t like net banking, you no longer need to stand in a queue at your local income-tax department office to pay tax. Axis Bank is offering its customers a facility enabling them to pay income-tax through automated teller machines (ATM). Though the facility is currently available only at a few ATMs in select cities, the bank says it will soon extend it to more than 5,600 ATMs across the country. “If you hold an account with Axis Bank and have a debit or an ATM card, you can use this facility to pay your income-tax and other direct taxes at the bank’s ATM,” says M.V. Subramanian, president-business banking, Axis Bank. “Individuals can also pay advance tax, self assessment tax as well as tax deducted at source (TDS) through this facility.”
Visit bank branch: First, you need to register for this facility by visiting the bank branch. You need to fill in a registration form and provide basic details such as name, address, debit or ATM card number and permanent account number along with the required income-tax challan number. Subramanian says, “Individuals mostly fill in income-tax challan number 280 and challan number 281 for payment of advance tax and TDS, respectively.” Also remember to provide your mobile number and email address. Once you register, the bank will verify the details.
At the ATM: After a couple of hours, you can visit any Axis Bank ATM offering this facility and pay tax. You need to choose the “more services option” on the screen. Then you need to choose the challan number and fill in the amount of tax and interest amount (if any) and other relevant details. On making the payment, you will get an ATM receipt giving details of the transaction. This transaction slip works as a proof of payment.
You need to register only once and you will be able to make all subsequent tax payments through ATMs.
Things to keep in mind
Though Axis Bank is the first private sector bank to offer such a facility, Corporation Bank had also rolled out such a facility in 2009. A senior officer at Corporation Bank, who did not want to be named as he is not authorized to speak to the media, says, “We were the first to launch this facility two years ago. One thing that customers should keep in mind is that the thermal paper receipt obtained after paying tax at an ATM fades off after a few days. So the customer should keep a photocopy of the receipt for future reference.” If you provide email address on the registration form, you will also get a soft copy of the receipt on your mail. Banks also send you SMSes for successful registration and payments.
This facility is free as of now for all customers of Axis Bank and Corporation Bank. In fact, the Central Board of Direct Taxes, as a part of its e-governance initiative, wants to provide more convenience to taxpayers and has asked authorized banks to roll out the facility. More banks are expected to follow suit soon.