ONLINE PAYMENT OF TAXES

By | June 14, 2015

In the digital era & looking at current digital world, The Ministry of Finance & CBDT has made the online payment facility for its tax payers. This article will guide you the steps of online payment taxes and its advantage.

Benefits of online payments of taxes

  • You can pay taxes from any location at any time through your net-banking account.
  • Instant transfer of funds from your account to GOI (Government of India) account.
  • What you write on the e-challan will be directly sent to Income Tax Department and you will get the correct credit.
  • Banks will not do any data entry so chances of mistake/error are less.
  • You can save/print the challan copy and the receipt copy.
  • As soon as your Bank authorizes payment of the amount, you will receive a clear, legible receipt/counterfoil from your Bank.
  • Transaction id of the e-payment transaction will be available to you in your bank statement.

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 and click CIN Based View.

CIN View

How do I make online tax payment of taxes?

Here are the steps to pay taxes online

Step1. Go to http://www.incometaxindia.gov.in/Pages/default.aspx and then click on ‘Pay Tax Online’ click which appears on the left side of the page. After the click it will take you another page just accepts the massage.

Step1

Step2. Now you are on Tax Information Network of e-payment taxes page. On this page you now need to select the appropriate tax type. Following are the tax types available on this page

  1. Form 26QB – Payment of TDS on Sale of Property
  2. Payment against demand only for TDS on Sale of Property
  3. Challan 281 – Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates
  4. Challan ITNS 280 – Payment of Income tax & Corporation Tax
  5. Challan ITNS 282 – Payment of Security Transaction Tax, Hotel Receipts Tax, Estate Duty, Interest Tax, Wealth Tax, Expenditure Tax /Other direct taxes & Gift tax
  6. Challan ITNS 283 – payment of Banking Cash Transaction Tax and Fringe Benefits Tax

Select the appropriate challan and then proceed for further information. Please be careful for selecting the AY, tax applicable, type of payment and off course for mentioning the PAN. As if anything go wrong you will not get the correct credit for the payment of taxes.

Step3. Now once you are done with above sept you will be directed to confirmation page and proceed to bank site page. On this page you will be asked to confirm the details that were mentioned in Step2.

Now if all the details are correct please click on ‘Submit To The Bank’ button. . If you feel the details are not correct then click on ‘Edit’ button .

Step4. Now after confirmation you will be redirected to bank website. The bank website are secured & protected from fraud. Use your account credentials and proceed for payment of taxes.

Confirmation

Now enter the tax payment details on this page and click on calculate total.

Step5. After Step4 you will be on final step for confirmation of all the details. Please review all the relevant information and then click on confirmation page. Once you confirm you will get the challan of payment immediately.

Challan

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