Karnataka Bank has now enabled the facility of payment of Direct Taxes (Income Tax / Advance Tax) for its customers. Bank is already providing the facility of online remittance through 'ICEGATE' portal for Customs Duty Payment and GSTN Portal for Goods and Service Taxes Payments and also Over the Counter mode on behalf of Central Board for Indirect Taxes and Customs (CBIC).
The development comes after Karnataka Bank was earlier authorized by Reserve Bank of India, on the basis of recommendation of Controller General of Accounts (CGA), Ministry of Finance, for collection of Direct and Indirect Taxes, on behalf of CBDT and CBIC.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.