2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Federal Bank
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Bank of India
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Canara Bank
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Bank of Baroda
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Detailed explanation-1: -UPSC Mains. Q. Which is the first public sector bank to go live on the Direct Tax Collection System Tin 2.0? Notes: Bank of India (BOI) has become the first public sector bank to go live on Income Tax Department’s new Direct Tax Collection System Tin 2.0.
Detailed explanation-2: -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.
Detailed explanation-3: -State Bank of India was the leading Indian public sector bank based on market capitalization with nearly 3.7 trillion Indian rupees as of October 2022. Bank of Baroda followed, with Canara Bank ranking third that year.
Detailed explanation-4: -Allahabad Bank is the oldest Public Sector Bank of India. It was established in 1865.
Detailed explanation-5: -➢ TIN 2.0 has a pre-login section which can be accessed by the tax payer by entering their PAN/TAN. along with the Mobile Number and OTP. Through this section, few type of Direct Tax transactions. can be initiated. Link for pre-login section: https://eportal.incometax.gov.in/iec/foservices/#/e-