IDBI Bank has launched India's first online direct tax payment facility in Hyderabad. Individuals and corporate taxpayers can now make payments for income tax, corporation tax, gift tax and tax deducted at source (TDS) over the internet, a press release said. | |
| The details entered by the assessee are validated by National Securities Depository Limited and the control is passed to IDBI Bank through a secure payment gateway. |
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| The bank debits the customer account after authentication and completes the tax to the government as an agency bank. This facility is a key initiative approved by the Central Board of Direct Taxes (CBDT) as part of its efforts to automate tax collection and administration. |
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| IDBI Bank has developed the entire integrated solution for online tax payment in-house. The traffic between the various sites involved in the transactions is fully encrypted using http protocols with industry standard digital certificates from Verisign. |
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| The bank has over 125 banking offices and over 324 ATMs spread across 90 cities. |
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