E-Tax Payment facilitates the payment of direct taxes online. If TAN/ PAN is valid, you will be allowed to fill other details of challan like accounting head under which payment is made, name and address of TAN, and also select the bank through which payment is to be made, etc.
To pay your Income Tax dues online, first, you have to log on to the official website of the Income Tax Department and click on Challan 280. The next step is to choose ‘’Tax on Regular Assessment’ and then select your bank from which payment is to be made.
It is the duty of every eligible earning individual in the country to pay income tax, with the income tax department paying taxes can be a burden, both financially and on our time that is why the department has provided adequate provisions, ensuring that taxes are no longer something which people avoid.
IS IT POSSIBLE TO PAY THE INCOME TAX ONLINE?
Yes, it is possible to pay the unpaid income tax online. The Income Tax Department provides an option in order to make payment of the unpaid tax through the online website https://www.tin-nsdl.com.
ELIGIBILITY FOR ONLINE TAX PAYMENT
The following assessees are required to pay taxes online:
- All assessees to whom the provisions of Section 44AB of the Income Tax Act apply
- All corporate assessees
HOW TO PAY INCOME TAX VIA ONLINE BANKING?
Paying taxes is viewed as a time-consuming and complicated process, and the thought of paying additional dues can make everyone extremely worried. The Income Tax Department also sends out notices and reminders to people who have their taxes due, thereby ensuring that people are aware of their tax liability and can pay the same in order to avoid future penalties.
In order to pay income tax through online banking, there are some simple steps to follow:
- Firstly, Visit https://www.tin-nsdl.com
- Thereafter Under ‘Services’ click on ‘e-payment’ to pay taxes online or click on the tab ‘e-payment: Pay Taxes Online’
- Select the challan that is relevant for your income category from ITNS 280, ITNS 281, ITNS 282, ITNS 283, ITNS 284 or Form 26 QB demand payment (for TDS on property sale) as applicable
- Enter all the relevant details such as PAN / TAN, other necessary challan details like accounting head under which payment is made, the address of the taxpayer and the bank through which payment is being made
- Once you have submitted the details, a confirmation screen will have appeared. If PAN / TAN is verified as per the ITD PAN / TAN master, then the full name of the taxpayer will have appeared on the confirmation screen
- After confirmation, you will be redirected to another page where you need to choose the bank for payment. You can take advantage of your bank’s net banking services to complete the payment
- Now, you will require to login to your bank’s net-banking website with your user id and password to carry out the payment process
- You will receive a challan receipt, Once you have made the payment, that will include details of CIN, payment details and bank’s name. You can save the receipt for future reference
BENEFITS OF ONLINE TAX PAYMENT
The following are the key advantage of online tax payment:
- Taxes can be paid at any time and from any location from your net banking account, in order to make it a convenient option for taxpayers
- Your tax amount will be instantly transferred from your bank account to the government, thereby making it a quick process
- Everything written on your e-challan will be sent directly to the Income Tax Department without any kind of data entry or any more hurdles from the bank, thereby making it a secure process
- The challan and receipt copy can be printed and saved for your reference
- A clear and legible receipt will be sent by the bank to you as soon as the payment is authorized by bank
- Your bank statement will enclose the transaction ID of the online payment, hence giving you access to a record should you require it in the future
- You can track the status of online payment on the TIN NSDL website