DBS Bank India's Tax Payment Innovation: A New Era of Convenience
DBS Bank India has launched a direct tax payment facility upon receiving approval from the CBDT. It can now collect direct tax payments via TIN 2.0, enhancing its service portfolio alongside GST payments. Meanwhile, Utkarsh Small Finance Bank partners with Mumbai Indians, enhancing its national visibility and fan engagement.
- Country:
- India
DBS Bank India announced the initiation of its direct tax payment facility after obtaining authorization from the Central Board of Direct Taxes (CBDT). This new service allows customers to pay income, advance, self-assessment, capital gains taxes, and TDS directly through their bank accounts via the TIN 2.0 platform.
This development complements DBS Bank's existing capability of collecting Goods and Services Tax (GST) payments, aiming to streamline the tax compliance environment and minimize operational errors by leveraging digital infrastructure.
In another significant development, Utkarsh Small Finance Bank has partnered with the Mumbai Indians for the T20 League 2026. This association is a strategic move to bolster its brand visibility and connect with diverse customer segments and cricket enthusiasts nationwide.
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