NIC Asia Bank Urges Customers to Update PAN for Seamless Tax Deduction and Certification

NIC Asia Bank, serving millions of customers with dynamic banking services, has requested all account holders to update their Permanent Account Number (PAN) as mandated by Nepal’s Income Tax Act, 2058. This update ensures proper recording of tax deductions (E-TDS) under the government’s tax system. Customers can update their PAN easily through the bank’s portal (panupdate.nicasiabank.com), mobile app (NIC ASIA MoBank), or by visiting any bank branch.

Updating PAN will enable automatic matching of tax deductions, facilitating easier issuance of tax deduction and clearance certificates, and eliminating the need for customers to visit the bank repeatedly. The bank also clarified that it is not responsible for any tax adjustments arising from non-updated PAN details. Customers facing issues can contact nearby branches or call the bank’s customer support for assistance.