Procedure for e-payment of Direct Taxes
As per press release of CBDT No. 402/92/2006-MC (05 of 2008) dated 23.01.2008, e-payment (online tax payment) of Direct Taxes is mandatory w.e.f. 04.04.2008 for corporate and 44AB assessees.
Which Banks offer e-payment facility?
- Axis Bank
- State Bank of
- Punjab National Bank
- Indian Overseas Bank
- Canara Bank
- Indian Bank
- Bank of
- Corporation Bank
- State Bank of Bikaner & Jaipur
- State Bank of Travancore
- State Bank of
- Vijaya Bank
- HDFC Bank
- Oriental Bank of Commerce
- State Bank of
- Bank of
- IDBI Bank
- State Bank of
- Bank of
- State Bank of
- State Bank of Saurashtra
- Union Bank of
- Allahabad Bank
- Dena Bank
- Syndicate Bank
- ICICI Bank
How do I make online tax payment sitting at home/office?
i. Open a net-banking account with any of the banks listed above.
ii. Go to website incometaxindia.gov.in, click on ‘pay taxes on-line’.
iii. Fill in the required challan online. Help is available on screen as FAQ, downloads etc.
iv. Make tax payment through net-banking account online.
v. A challan counterfoil will be available instantaneously on the screen with CIN (challan identification number). The Challan Identification Number (CIN) on this counterfoil should be quoted in Return of Income.
vi. Print the counterfoil and also save it in the computer if possible.
vii. Check if your payment has reached the Income Tax Department at https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayer.
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What are the advantages of paying taxes online?
i. You can pay taxes from any location at any time through your net-banking account.
ii. Instant transfer of funds from your account.
iii. What you write on the e-challan will be directly sent to Income Tax Department. Banks will not do any data entry.
iv. You can save/print the challan copy and the receipt copy.
v. As soon as your Bank authorizes payment of the amount, you will receive a clear, legible receipt/counterfoil from your Bank.
vi. Transaction id of the e-payment transaction will be available to you in your bank statement.
vii. You can check online if your money has actually reached the I-T Department. For this you have to go to Tax Information Network Website: https://tin.tin.nsdl.com/oltas/index.html
CIN Based View
and click the box
For detailed information please go to: incometaxindia.gov.in,
PAY TAXES ONLINE
IMP: In case of refunds adjusted against arrear demand, the normal refund should be attached with challan and sent to Bank by AOs as per earlier procedure.
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