Kathmandu. NIC Asia Bank has requested customers to update permanent account number (PAN) in their accounts. As the details of tax deduction made from the accounts of the bank customers have to be linked to the permanent account number system issued by the Government of Nepal, Ministry of Finance, Department of Internal Revenue as per the “Income Tax Act 2058”, customers can update their PAN as soon as possible by tabing the ‘PAN Update’ option on the bank’s portal panupdate.nicasiabank.com or mobile banking app. In addition, customers can apply for updating pan in their account from any branch office of this bank.
PAN is essential for the E-TDS record of the tax deducted from this bank for payment of interest to the depositor. After updating the PAN, the details of their tax deduction will be entered in that PAN, so the income tax system automatically matches the details of tax deduction in Schedule 10. The bank believes that this will make it easier for the customers to get tax deduction certificates and tax paid certificates and also end the situation of going to the bank to get the certificate.
The Bank also informs all customers that the bank will not be responsible in case the interest tax is not deposited in E-TDS due to TAG_OPEN_p_4 non-updation of PAN by the customer and further adjustment in the interest tax has to be made in that province.
In addition, if TAG_OPEN_p_3 the details of tax deduction are not included even after providing PAN to the bank earlier, it is requested to contact the phone numbers of the bank’s nearest branch office or customer contact center at 1660-01-77771, 01-5970101.
