Karur Vysya Bank said that consequent to authorization extended by Central Board of Direct Taxes ICBDTI, it has integrated with income tax portal of CBDT for collection of direct taxes.
"Accordingly, customers of the bank can remit their direct tax payments through the branches of the bank or through KVB net banking, effective from 1 October 2022, the private lender said in a statement.
Karur Vysya Bank is a private sector bank headquartered in Karur, Tamil Nadu. It has a network of 789 branches, primarily in south India, and 2,237 ATMs and cash recyclers as on June 30, 2022.It provides both commercial and consumer banking services.
Net profit in Q1 FY23 grew by 110% to Rs 229 crore from Rs 109 crore recorded during Q1 of previous year. Net interest income for the quarter improved by approximately 17% to Rs 746 crore for the current quarter vis-vis Rs 638 crore for Q1 of previous year.
Shares of Karur Vysya Bank were up 0.19% to Rs 80.80 on the BSE.
In the past three months, the stock has zoomed 79.76% while the benchmark Sensex has added 7.12% during the same period.
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