NIC ASIA Bank urges customers to update PAN & Email details
This ensures proper reporting of Tax Deducted at Source (TDS) in the government’s electronic system.
KATHMANDU: NIC ASIA Bank has requested all its customers to promptly update their Permanent Account Number (PAN) and email address linked to their bank accounts.
The bank stated that, in line with the Income Tax Act 2058 and directives from the Government of Nepal’s Ministry of Finance and the Inland Revenue Department, it is mandatory to integrate tax deduction records with the PAN system.
This ensures proper reporting of Tax Deducted at Source (TDS) in the government’s electronic system.
Customers can update their PAN through the bank’s official portal at panupdate.nicasiabank.com or via the NIC ASIA MoBank mobile application by selecting the “PAN Update” option.
Alternatively, PAN details can also be updated by visiting any branch of the bank.
The bank emphasized that PAN registration is essential for recording interest income tax deductions in the E-TDS system. Once updated, the system will automatically map the tax deduction details to the customer’s PAN, enabling seamless reconciliation in Schedule 10 of the income tax system.
This will also make it easier for customers to obtain tax deduction certificates and tax clearance documents without visiting the bank.
NIC ASIA Bank also urged customers to update their email addresses to ensure smooth communication. Customers can update their email via the bank’s video KYC service or through the “My Profile” section of the MoBank app by selecting the “Change Email” option. Branch visits are also available for this service.
The bank further noted that in cases where PAN or email updates are not completed, resulting discrepancies in E-TDS records or subsequent tax adjustments will not be the bank’s responsibility.
For assistance, customers may contact the nearest branch or call the bank’s customer service center at 1660-01-77771 or 01-5970101.
