State-owned Oriental Bank of Commerce (OBC) today launched the Income Tax payment facility through ATMs for their customers. The process of income tax payment through ATMs is user friendly and would lead to higher compliance by spreading the tax net to cover individual taxpayers resulting in higher Direct Tax revenues, Revenue Secretary Sunil Mitra said after launching the facility here.
Speaking on the occasion OBC Chairman and Managing Director Nagesh Pydah said, the bank is already facilitating payment of Direct and Indirect Taxes through its branches and through Internet.
The payment of Income Tax through ATMs is yet another step to further simplify the process of deposit of Income Tax by the customers in a 24X7 environment, he said.
Last week, Union Bank of India launched a similar facility.