NIC ASIA Bank urges customers to update PAN & email for tax compliance

KATHMANDU: NIC ASIA Bank has requested its valued customers to promptly update their Permanent Account Number (PAN) and email address linked to their accounts

This update is essential to ensure that tax deduction records from interest payments are accurately reported under Nepal’s Income Tax Act 2058.

Customers can update their PAN through the bank’s portal at panupdate.nicasiabank.com or via the NIC ASIA MoBank mobile app by selecting the ‘PAN Update’ option.

Updates can also be made by submitting an application at any NIC ASIA Bank branch.

Updating the PAN allows the bank to record interest tax deductions in the E-TDS system, which automatically reconciles tax details under Schedule 10 of the Income Tax system.

This streamlines the issuance of tax deduction certificates and eliminates the need for customers to visit bank branches in person.

The bank also clarifies that it will not be responsible for any adjustments required due to customers failing to update their PAN.

Similarly, customers are urged to update their email addresses via the bank’s video KYC portal (https://www.nicasiabank.com/video-kyc/) or the MoBank app under ‘My Profile’ → ‘Change Email’. Email updates can also be submitted at any bank branch.

For assistance regarding PAN or email updates, or if E-TDS details have not been recorded despite providing PAN, customers can contact the nearest branch or the bank’s customer service at 1660–01–77771 or 01–5970101.