NIC Asia Bank Urges Elite Customers to Update Permanent Account Numbers

NIC Asia Bank is requesting its elite customers to update their Permanent Account Number (PAN) in their accounts.

This update is required to comply with the "Income Tax Act 2058," which mandates entering tax deduction details into the PAN system managed by the Government of Nepal's Internal Revenue Department.

Customers can update their PAN through the bank's portal (panupdate.nicasiabank.com) or mobile banking app (NIC ASIA MoBank) by selecting the "PAN Update" option. Additionally, customers can apply for PAN renewal at any bank branch.

Updating the PAN will ensure that tax deduction details are accurately recorded, simplifying the process of obtaining tax certificates and avoiding issues related to E-TDS records.

The bank disclaims responsibility for any issues arising from the failure to update the PAN and advises contacting the nearest branch or customer contact center if PAN details are not reflected correctly.