Kathmandu. NIC Asia Bank has requested its customers to update the Permanent Account Number (PAN) in their accounts. As the details of tax deductions made from the bank’s customers’ accounts must be linked to the Permanent Account Number System issued by the Government of Nepal, Ministry of Finance, and Department of Internal Revenue as per the Income Tax Act 2058, the bank has requested the customers to update their PAN as soon as possible by clicking on the PAN update option on the bank’s portal or mobile banking app.
Also, arrangements have been made for customers to apply for updating the PAN in their accounts from any branch office of this bank that is convenient for them.
PAN is essential for indicating the tax deducted by this bank for depositors’ interest payments in the e-TDS record. Once the PAN is updated, their tax details will be entered in the e-TDS PAN, and the Income Tax system will automatically match the tax details in Schedule 10.
The bank is confident that this will make it easier for customers to obtain tax deduction certificates and tax payment certificates, and will also eliminate the need to visit the bank to obtain the certificates.
The bank has also informed all customers that the bank will not be responsible in the event that interest tax is not deposited in the e-TDS due to the customer not updating the PAN and in the event that further adjustments are required in the interest tax.
Also, if the tax details are not included even after providing the PAN to the bank earlier You are requested to contact the bank’s nearest branch office or customer contact center at 1660-01-77771, 01-5970101 to avail the service.
The bank has expanded its network of 360 branch offices, 670 ATMs, 118 extended counters and 51 branchless branches across the country.
