According to the bank, customers can update their PAN details using the 'PAN Update' option on the bank's official portal or the mobile banking app NIC Asia Mo Bank.
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NIC Asia Bank has requested its customers to update their Permanent Account Number (PAN) and email address in their accounts. The bank has requested them to update their PAN as per the Income Tax Act, 2058 BS, the tax details deducted from the customers' accounts are required to be included in the PAN system of the Department of Internal Revenue under the Ministry of Finance, Government of Nepal.
According to the bank, customers can update their PAN details using the 'PAN Update' option on the bank's official portal or the mobile banking app NIC Asia Mo Bank . The bank has also stated that arrangements have been made to apply for PAN update by visiting any of the nearest branch offices. Since PAN is mandatory to enter the depositor's interest withholding tax (ETDS) system, the bank has clarified that after the PAN is updated, the tax details will be entered in the same PAN. After this, the income tax system will automatically match the tax details in Schedule 10, so the bank believes that it will be easier for customers to obtain tax deduction certificates and tax payment certificates. It is also stated that this will end the situation of having to visit the bank to obtain the certificates.
The bank has also informed that the bank will not be responsible if interest tax is not deposited in ETDS or if tax adjustment is required later due to non-update of PAN.
Similarly, the bank has requested customers to update the email address in the account. Customers can update their email address through the bank's video
KYC service or the 'Change Email' option under 'My Profile' in the mobile banking app. If necessary, the email address can also be updated by visiting the nearest branch office, the bank has said. Even if the PAN has been provided earlier, if the tax details are not included or the email address is not updated, the bank has urged customers to contact the nearest branch office or customer contact center at phone numbers 1660-01-77771 and 01-5970101 to avail the service.
