NIC ASIA Bank urges customers to update PAN for seamless tax filing
Additionally, customers can also visit any branch of NIC ASIA Bank to apply for PAN updates in person.
KATHMANDU: NIC ASIA Bank, a dynamic banking institution serving millions of customers, requests its valued customers to update their Permanent Account Number (PAN) in their accounts.
As per the provisions of the “Income Tax Act 2058,” the Government of Nepal, Ministry of Finance, Inland Revenue Department, has mandated that tax deduction details from customers’ accounts must be linked to the PAN system.
Customers can update their PAN swiftly through the bank’s portal panupdate.nicasiabank.com or by using the “PAN Update” option in the NIC ASIA mobile banking app (NIC ASIA MoBank).
Additionally, customers can also visit any branch of NIC ASIA Bank to apply for PAN updates in person.
The bank emphasizes that updating PAN is crucial for recording tax deductions on interest payments in the E-TDS system.
Once PAN is updated, the tax deduction details (E-TDS) will be entered under the PAN, enabling the income tax system to automatically reconcile tax deduction details in Schedule 10.
This will ease the process for customers to obtain tax deduction certificates and tax clearance certificates without the need to visit the bank.
NIC ASIA Bank also informs its customers that it will not be responsible if interest tax is not filed in the E-TDS system due to failure in updating PAN. If later adjustments are required due to unfiled interest tax, the bank will not be held liable.
For customers who have already provided PAN but notice that their tax deduction details are not included, they are requested to contact the nearest bank branch or reach out to the bank’s customer service center at the phone numbers 1660-01-77771 or 01-5970101 for assistance.
