Bank of Maharashtra goes live on new direct tax collection system

State-owned Bank of Maharashtra (BoM) on Sunday said it has got its technology platform integrated with the Income Tax Department’s new direct tax collection system TIN 2.0.

The Pune-based bank has joined the bandwagon of public sector lenders to go live on Tax Information Network, TIN 2.0 (e-filing).

TIN 2.0 platform, started on July 1, 2022, is the official portal of the Income Tax Department, Ministry of Finance.

“Taxpayers will now get a single platform for their tax payments as well as e-filing of tax returns with this technological integration,” BoM Managing Director A S Rajeev said in a statement.

With this, BoM becomes an integral part of direct tax collection system, and all branches of the bank are now designated to facilitate the tax collection under TIN 2.0 through various channels, he said.

This will help customers avail the service seamlessly as per their convenience, said BoM Executive Director Asheesh Pandey.

The migration to the new tax collection platform is in compliance with directives from the Central Board of Direct Taxes. TIN 2.0 has replaced the existing Online Tax Accounting System (OLTAS) with certain enhancements and modifications in the existing system and processes, the bank said.

The portal has been developed by the Income Tax Department as a mission mode project under the National E-Governance Plan. The objective of this portal is to provide taxpayers with a single window access to income tax-related services, including tax payments.

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