NIC ASIA Bank urges customers to update PAN
Customers can update their PAN swiftly through the bank's portal panupdate.nicasiabank.com or the NIC ASIA MoBank mobile banking app.
KATHMANDU: NIC ASIA Bank has requested its customers to update their Permanent Account Number (PAN) in their accounts.
According to the bank, details of income tax payments made from customers’ accounts are required to be linked with the Permanent Account Number (PAN) system issued by the Internal Revenue Department of the Ministry of Finance, Government of Nepal.
Customers can update their PAN swiftly through the bank’s portal panupdate.nicasiabank.com or the NIC ASIA MoBank mobile banking app.
Alternatively, they may also apply for PAN updating at any branch office of the bank.
It is essential for depositors’ interest income tax deducted at source (TDS) payments to be reported in the E-TDS records after PAN updates.
This enables automatic matching of tax deductions under Schedule 10, facilitating easy procurement of tax deduction certificates and tax clearance certificates from the bank.
Failure to update PAN may result in complications such as non-inclusion of interest income in E-TDS filings and subsequent adjustments in tax payments.
NIC ASIA Bank operates across the country with 360 branch offices, 670 ATMs, 118 extended counters, and an extensive branchless banking network comprising 51 touchpoints.
