YES BANK Goes Live with Direct Tax Payment Facility

YES BANK, India's sixth largest private sector bank, has announced the launch of its Direct Tax payment facility through a seamless integration with the Central Board of Direct Taxes (CBDT) TIN 2.0 portal. This new service allows all taxpayers to pay Income Tax, TDS, Advance Tax, Self-Assessment Tax, Corporate Tax, Capital Gains Tax and other direct taxes at their convenience directly from their Bank account.

Accessible through its Retail and Corporate Internet Banking platforms, this service offers real-time payment confirmation with immediate e-receipt availability.

The service as authorised through the Agency bank mandate granted by the Government of India augments YES BANK's commitment to nation-building through digital innovation and ease of doing business. This new service also marks a significant step forward in the Bank's digital banking roadmap, offering individuals, businesses, and professionals a secure, efficient, and convenient method to fulfil their direct tax obligations.

How it works - Simple 3-Step Process :

- Visit the TIN 2.0 - Income Tax portal (www.incometax.gov.in) and select 'YES BANK' as your payment option.

- When redirected, log in to your account using YES BANK's 'NetBanking' option.

- Complete your payment and instantly.

Commenting on the launch, Mr. Prashant Kumar, Managing Director & CEO, YES BANK, said, "At YES BANK, we are committed to delivering digital-first, customer-centric solutions that makes financial transactions seamless and reliable. With our integration into the CBDT's TIN 2.0 portal, we aim to simplify direct tax payments for individuals and enterprises alike, further strengthening our contribution to a transparent and efficient tax ecosystem."

Key Features of YES BANK's Direct Tax Payment Facility:

- Direct Integration with TIN 2.0: Enables quick and secure payments of various direct taxes directly through YES BANK NetBanking channels.

- Real-Time Confirmation: Instant updates and downloadable challans post-transaction for added convenience and compliance tracking.

- One-Stop Tax Solution: Complements YES BANK's existing tax payment suite, offering comprehensive digital solutions for all statutory payments.

This new offering reinforces YES BANK's role as a trusted financial partner in India's digital transformation journey and underlines its continued focus on providing inclusive, innovative, and accessible banking solutions for all.

Shares of Yes Bank Limited was last trading in BSE at Rs. 20.08 as compared to the previous close of Rs. 20.24. The total number of shares traded during the day was 7361703 in over 27557 trades.

The stock hit an intraday high of Rs. 20.30 and intraday low of 20.03. The net turnover during the day was Rs. 148161730.00.

Source : Equity Bulls

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