Kotak Mahindra Bank completes its integration for direct tax payments
Kotak Mahindra Bank Limited (“KMBL”/“Kotak”) announced the completion of its technical integration with the brand new e-filing portal (www.eportal.incometax.gov.in) making it one of the first private banks to be fully integrated with the new Income Tax department portal.
This means Kotak Mahindra Bank customers, individuals as well as corporates, can pay their direct taxes through the e-pay tax tab on the portal using Kotak Net Banking or by visiting a branch. The move aims to make the tax payment process simple, instant, and convenient for its customers.
In October 2021, Kotak Bank became the first Scheduled Private Sector Bank to receive approval as a collections partner for taxes, after the announcement to permit all banks to participate in government business. With the solution going live, the bank continues to be the pioneering player offering this service in the private banking space.
Dipak Gupta, Joint Managing Director, Kotak Mahindra Bank said, “Leadership comes with a sustained commitment to initiate something new and more importantly to achieve the envisioned results. We are immensely proud of our teams for incorporating the holistic tax payment solution into our banking systems in a short time.
“With this facility, Kotak Bank becomes one of the first to offer a direct taxes payment ecosystem across all our channels. We are continuously innovating to make this experience more customer centric, convenient and secure.”