- Ease of operation and convenience.
- No fee for tax payment
- Simple consolidated menu
- Personalized and secure remittance
- Facility is available 24x7x365 basis.
- Remittance can be made on behalf of the firm, company and others, provided the PAN / TAN / Assessee code is registered.
- Cyber Receipt in the form of Challan including CIN can be downloaded / printed for record.
Who can Apply?
All Federal bank customers are eligible to register for the online tax payment via Fednet. Subject to the following conditions:
- Savings / Current / Other Accounts with FedNet transaction facility
- Valid PAN / TAN / ASSESSEE code
- Registration of PAN / TAN / ASSESSEE code with FedNet
- Present limit for transactions through FedNet is Rs.30,000/- per day. For higher limits, you have to submit "Application Form for Higher Limits" to your Branch.
How to Apply
- You will be required to do a one-time registration for CBDT / CBEC e-Payments with PAN / TAN / Assessee Code and other details like Name, Address, etc. Login to FedNet with your user name and password
- Each PAN / TAN / Assessee Code has to be registered separately
- The details provided during registration will then be verified by the Bank. It may take a maximum of two working days.
- Customers would then receive an email stating whether the registration was approved or rejected along with reasons
- After successful registration, customers can start making online payment of taxes
Types of Tax Payments
- Income Tax
- Corporation Tax - Tax on Companies and Tax Deducted at Source from Companies
- Interest Tax and Expenditure Tax
- Gift Tax
- Wealth Tax
- Fringe Benefit Tax (FBT)
- Securities Transaction Tax (STT)
- Banking Cash Transaction Tax (BCTT)
- Other Tax Deducted or collected at source (TDS or TCS) on salaries of employees, interest on Fixed Deposits, Vendor Payments, Rent etc.
- Any other Direct Tax including Advance Tax
- Central Excise duty
- Service Tax
Login to FedNet with username and password
- Select "Pay your Tax" from "Pay Bills" Menu
- Select the relevant challan applicable to your payment and then select the PAN / TAN / Assessee Code from the drop down list.
- The challan form will be loaded with details of PAN / TAN / Assessee Code, Name and Address. You have to fill in the details such as Tax Major Head, Minor Head (or Account code), Assessment Year / Financial year, nature of payment and Amount with break-up etc.
- Ensure that all the details entered in the challan are correct and confirm payment by selecting the Submit / Insert button.
- Payments executed by you will be credited to the Govt account only on the next working day
- The copy of the accepted challans with the "Challan Index Number" (CIN - with the BSR code of the remitting Branch, Date of Payment and the Challan No) will be available within 2-3 working days from the date of payment. You can then download the challans from FedNet.
- This is a 24 x 7 x 365 facility and as such you can make payment at any time of your convenience.
- All the payments executed by you in a day will be accounted for on the next working day.