Taxes & RERA
Whether you are an individual paying direct taxes like income tax, indirect taxes like GST and customs, investing in tax-exempt capital gain bonds, an employer making statutory payments to an employee, a developer looking for a current account for a RERA designated project, Karnataka Bank offers a suite of banking products and services to cater to your every need.
Pay taxes with ease
Invest in capital gain bonds
Get tax exemptions under section 54EC of the Income Tax Act of 1961 when you invest in 5-year capital gain bonds issued by Power Finance Corporation (PFC), Rural Electrification Corporation Ltd (REC) or Indian Railway Finance Corporation (IRFC).
RERA Accounts for developers
Special-purpose accounts designed for developers of RERA designated projects.
This special purpose account has features such as zero minimum balance, zero charges, auto-transfer of funds from master collection account to RERA designated and current accounts, and a Flexi Deposit facility for the RERA designated account.
The Real Estate (Regulation and Development) Act, 2016 applies to residential and commercial real estate projects. It is mandatory for the project developer to register their projects before advertising or selling them and to deposit 70 percent of customer advances or project funds into a separate dedicated account so that funds are utilized only for the related project.
This product comprises the master collection account (CARE1), a RERA designated account (CARE2), and a current account (CARE3) for day-to-day operations. The funds collected in CARE1 are automatically transferred in a 70:30 ratio to CARE2 and CARE3 accounts respectively. The funds from CARE2 account can be transferred to CARE3 account upon submission of related documents. For financed projects, funds from CARE2 account are held in a escrow account as per procedure. This product also includes a Flexi Deposit facility for the CARE2 account.
KSBCL e-Payment for retailers
Retailers can now make their stock procurement payments to Karnataka State Beverages Corporation Ltd (KSBCL) via Internet Banking on the e-Payment platform.
Easy statutory payments with SBI e-Pay
Make Provident Fund (PF), Employee State Insurance (ESI), Profession Tax (PT), Property Tax and other payments easily:
Step 1
Select payment method
Go to challan payment and select internet banking as your payment method.
Step 2
Select SBI e-Pay aggregator
From the list of banks displayed, select SBI e-Pay aggregator.
Step 3
Select Karnataka Bank on payment gateway
On the payment gateway page, select Karnataka Bank from the list of banks.
Step 4
Make payment on Karnataka Bank Internet Banking
Make your payment on Karnataka Bank Internet Banking platform.
Bank accounts for government institutions
Karnataka Bank offers special savings and current accounts designed specifically for government departments, boards, corporations and other bodies.
Zero minimum balance
Pay all your utility bills on a single platform online – electricity, pipe gas, and water bills, along with mobile, landline, DTH and broadband bills
Flexi deposit
Never pay late fees for missing a due date. Make payments from the comfort of your home without having to stand in a queue again.
Free inter-bank fund transfer
Receive a confirmation e-mail and SMS upon successful payment of a bill with no worries or delays in settlements.
