NIC Asia Mandates PAN Update for Smooth Tax Reporting.
29th April 2026, Kathmandu
In an effort to promote transparency and ensure seamless tax compliance, NIC Asia Bank has recently issued a request to all its customers to update their Permanent Account Number (PAN) and email addresses.
NIC Asia Mandates PAN
This initiative aligns with the latest digital banking trends in Nepal and adheres to the regulatory requirements set by the government. Linking your PAN to your bank account is no longer just a recommendation; it is a vital step for any responsible taxpayer who wishes to have their financial records properly integrated with the national tax system. By keeping your information current, you ensure that your banking experience remains efficient and that your tax obligations are handled with precision.
Why Updating Your PAN is Mandatory for Taxpayers
The requirement to link a PAN with banking records is grounded in the Income Tax Act 2058 and the directives of the Inland Revenue Department of Nepal. When you earn interest on your savings, the bank is required to perform Tax Deducted at Source (TDS). Without a linked PAN, this tax deduction may not be correctly attributed to your name in the government’s electronic records.
By updating your PAN with NIC Asia Bank, you ensure that:
Accurate TDS Recording: Every rupee deducted as tax from your interest income is properly recorded against your unique tax ID.
System Integration: Your tax details are automatically integrated into the government’s PAN system, specifically in Schedule 10.
Easy Documentation: Customers can easily obtain tax clearance certificates and tax deduction certificates without the hassle of manual reconciliation or bank visits later on.
Simple Methods to Update Your PAN Online and Offline
NIC Asia Bank has made the update process incredibly user friendly, offering both digital and physical channels. You do not necessarily need to visit a branch to complete this task.
Mobile Banking App: Open your NIC Asia MoBank app and look for the “PAN Update” option within the settings or profile menu. This is the fastest way to link your number.
Web Portal: The bank has a dedicated PAN update portal on its official website. Simply enter your account details and upload your PAN information.
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Branch Visit: For those who prefer personal assistance, you can walk into any of the numerous NIC Asia Bank branches across Nepal and submit a simple request form.
The Importance of Email Address Updates
Communication is the backbone of modern banking. NIC Asia Bank is also encouraging customers to update their email addresses to ensure they receive timely alerts, digital statements, and security notifications. An updated email address is essential for receiving e-statements and tracking your transactions in real time.
To update your email, you can use the following methods:
Video KYC: Use the bank’s innovative Video KYC service on their website to update personal details from your home.
Mobile App: Go to “My Profile” and select the “Change Email” option.
In Person: Visit your nearest branch to update your contact information manually.
Understanding the Liability of the Account Holder
It is important to note that the responsibility for tax reconciliation lies primarily with the customer. NIC Asia Bank has clarified that if a customer fails to update their PAN, and as a result, their tax is not properly filed in the Electronic TDS (e-TDS) system, the bank will not be held responsible. This could lead to complications when you try to file your annual income tax returns or claim tax credits. Therefore, taking a few minutes to update your details now can save you from significant legal and financial headaches in the future.
Customer Support and Resolution
If you have already submitted your PAN but do not see it reflected in your account statements, or if you encounter issues while updating your email through the app, the bank provides robust support. You can reach out to their customer support center at 1660-01-77771 or 01-5970101. Alternatively, you can visit the nearest branch where staff can verify your status and manually trigger the update in the system.
Conclusion: Act Promptly for Smooth Banking
The call from NIC Asia Bank to update PAN and email addresses is a move toward a more organized and digital financial ecosystem in Nepal. It empowers the customer by ensuring that their tax contributions are recognized and that their communication with the bank is uninterrupted. Don’t wait for the end of the fiscal year to sort out your tax documentation. Log in to your mobile app or visit the NIC Asia Bank website today to ensure your account is fully compliant and optimized for the digital age. Success in modern finance starts with accurate data, and this small step will go a long way in securing your financial peace of mind.
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