Online Tax Payment Via FedNet
Features & Benefits
FedNet makes it possible all Federal bank customers to pay their Direct and Indirect taxes online - effortlessly and securely.
Ease of operation and convenience with simple, consolidated menu.
No fee for tax payment
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 register ?
All Federal bank customers are eligible to register for the online tax payment via Fednet. Subject to the following conditions:
Customers shall have Savings / Current / Other Accounts enabled with FedNet transaction facility
Customers shall have valid PAN / TAN / ASSESSEE code
Registration of PAN / TAN / ASSESSEE code with FedNet is required
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.
Types of Taxes which can be paid through Internet Banking
- 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
How to register ?
- 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
- 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.
How to Make Payments ?
- 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.