Business EconomyPosted at: Jan 10 2025 7:27PM


IDFC FIRST Bank goes live on direct tax collection system of CBDT

Mumbai, Jan 10 (UNI) IDFC FIRST Bank announced its integration with the Income Tax Portal to collect direct tax on behalf of the Central Board of Direct Taxes (CBDT).
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, a check, or a 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, the 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 the 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:
1. Log in to the CBDT portal: https://eportal.incometax.gov.in/iec/foservices/#/login
2. Create a challan and select e-payment via net banking.
3. Choose IDFC FIRST Bank as the payment option.
4. 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.

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.
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