Breaking News

Online Tax Accounting System ( OLTAS ) helps in paying Income Tax through ATM

Central board of Direct taxes have enabled the option of paying income tax through certain designated banks. It is now as easy as using your Debit card or Credit card to pay a phone bill.

The authorized banks for tax collection are – Corporation Bank, Bank of Maharashtra, Union Bank of India, UCO Bank, Bank of Baroda, Oriental Bank of Commerce, Punjab and Sind Bank, Axis Bank, HDFC Bank, Indian Bank, Canara Bank, Punjab National Bank, Central Bank of India and Andhra Bank.


Central board of Direct taxes have enabled the option of paying income tax through certain designated banks. It is now as easy as using your Debit card or Credit card to pay a phone bill.

The authorized banks for tax collection are – Corporation Bank, Bank of Maharashtra, Union Bank of India, UCO Bank, Bank of Baroda, Oriental Bank of Commerce, Punjab and Sind Bank, Axis Bank, HDFC Bank, Indian Bank, Canara Bank, Punjab National Bank, Central Bank of India and Andhra Bank.

The tax payer can avail the facility of tax payment through ATM by registering with the bank or checking the option of tax payment through ATM when applying for an ATM card. The bank will check credentials of the applicant and then he / she will be entitled to pay income tax through ATM. While paying the income tax through ATM the person has to enter the year and exact amount to be paid which will be deducted from his account.

It is a great move by central board of direct taxes and is sure to help a lot of individuals in paying tax without standing in a long que for hours.

By Rashmi Priya

Leave a Reply