State-owned Oriental Bank of Commerce (OBC) 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 informed.
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 and encourage people to file it with more convenience. Recently, Union Bank of India launched a similar facility.
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