Kathmandu. NIC Asia Bank has urged customers to update the Permanent Account Number (PAN) in their accounts. The bank has made this request stating that the details of tax deductions made from the bank’s customers’ accounts should be linked to the Permanent Account Number System as per the ‘Income Tax Act 2058’.
The bank has stated that customers can update their PAN as soon as possible by clicking on the ‘PAN Update’ option on the bank’s portal panupdate.nicasiabank.com or the mobile banking app ‘NIC Asia Mo Bank’.
Also, according to the bank, customers can update their PAN in their account from any branch office of this bank that is convenient for them.
To report the tax deducted by the bank for the depositor’s interest payment in the e-TDS record The bank has stated that PAN is essential. After the PAN is updated, the details of their tax deductions will be entered in the e-TDS PAN, and the income tax system will automatically match the tax deduction details in Schedule 10.
The bank is confident that this will make it easier for customers to obtain tax deduction certificates and tax payment certificates, and will also eliminate the need to visit the bank to obtain the certificates.
The bank has also informed through a notice that the bank will not be responsible for the non-deposit of interest tax in e-TDS due to the customers not updating the PAN and in the event that further adjustments to the interest tax are required.
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