With a view to expand the scope of electronic payment of taxes, CBDT had made it mandatory for the following categories of tax-payers to make the payment through Electronic payment:-

(i)             All corporate assesses:

(ii)            All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act are applicable.

To facilitate LVB clients to make payment of Taxes through their account maintained with our Bank, without requiring them to approach the authorised banks for making such tax remittances.  The facility is at present offered “ FREE OF CHARGE”.  

ü  Prerequisites to effect e-tax remittance through LVB are as under:

·         An active account with sufficient balance

·         PAN number and PIN code is essential for effecting the payment

ü  Download the E-payment request form ( click here for the request form ) 

ü  If the remittance is to be made under ITNS 281- download the applicable annexure

ü  Fill in all the columns

ü  For all the “Advance Tax” payment the assessment year should be properly entered

ü  For each type of tax payment, obtain separate e-payment request form and individual cheques.

ü  In respect of customers remitting tax under challan ITNS-281, they have to register the TAN for the first time, which may require 48 hours. Hence remittance of tax from such customer can be accepted only after TAN registration.

ü  Submit the duly filled in form/s in duplicate and LVB cheque drawn by the remitter at the nearest LVB Branch

ü  The customer can collect the tax paid receipt in person from the branch or can request the branch to mail to the registered email ID of the account holder.