Income Tax Payment Online (e-payment)
The process of making income tax payment online is called e-payment of income tax. Every Indian income tax assessee who files an income tax return and has a liability to pay taxes can avail of this facility to pay taxes online, if he has a net-banking account with any of the Authorized Banks (authorized by Income Tax Department).
e-payment of taxes is mandatory for the following types of assesses in India, with effect from April 1,2008. It is also mandatory for such assessees to make the TDS/TCS payment online.
- All the corporate assesses
- All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable.
However, any other assessee can also make tax payment online if he has a bank account with net-banking facility and such Indian bank is authorized to provide the income tax payment online payment (e-payment) facility in India.
The following banks in India are authorized for this purpose.
- Allahabad Bank
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- Jammu & Kashmir Bank
- Oriental Bank of Commerce
- Punjab National Bank
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of India
- State Bank of Indore
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
In case the tax payer’s bank does not have an online payment facility or is not an authorized bank then he/she can make electronic payment of tax from the account of any other person who has an account with the authorized bank having online facility. However, the challan for making such payment must clearly indicate your Permanent Account Number (PAN).
How to pay income tax online?
The following are the steps to pay tax online.
- Go to www.tin-nsdl.com (NSDL-TIN website)
- Select and click on the required challan. CHALLAN NO./ITNS 280 is for payment of Income tax & Corporation Tax
- After selecting the required challan, you will be directed to the screen for entering the following data
- a) PAN for non-TDS payments and TAN for TDS payments. Please ensure that you enter PAN/TAN correctly, as this is extremely important for further processing. The system will check the validity of PAN/TAN. In case PAN/TAN is not available in the database of the Income Tax Department then you cannot proceed with the payment of tax. Hence it is important for you to obtain a pan card.You can make a pan card application online or download and print a pan application form and submit it offline. You can also know pan card status (pan status) online
- b) Name and address of the taxpayer
- c) Assessment Year
- d) Major Head Code
- e) Minor Head Code
- f) Type of payment
- g) Select the bank name from the drop down provided
- After entering all the above detail, click on PROCEED button. TIN system will display the contents you have entered along with the “Name” appearing in the ITD database with respect the PAN/TAN entered by you.
- You can now verify the details entered by you. In case you have made a mistake in data entry, click on “EDIT” to correct the same. If all the detail and name as per ITD is correct, click on “SUBMIT” button. You will be directed to the net-banking site provided by your bank.
Next, log on to the net banking site of your bank using your login ID and password/PIN provided by the bank. The particulars entered by you at TIN website will be displayed again. You will now be required to enter the amount of tax you intend to pay and also select your bank account number from where you intend to pay the tax. After verifying the correctness, you can proceed with confirming the payment.
Your bank will process the transaction online by debiting the bank account indicated by you and generate a printable acknowledgment indicating the Challan Identification Number (CIN). You can verify the status of the challan in the “Challan Status Inquiry” at NSDL-TIN website using CIN after a week, from making payment.
Apart from CIN given to you, you can also check your online bank statement to verify the tax payment. It will be considered sufficient proof if you quote your Challan Identification Number (CIN) as mentioned in your counterfoil in your return. You will have to request the bank if the counterfoil containing the CIN is not displayed on completion of the transaction and if you want a duplicate counterfoil.
e-payment of income tax is beneficial as you can make tax payment from any place where an internet facility. You can also get the Challan Identification Number (CIN) online, which is required by you when you file your return.
If any problem is encountered at the NSDL website while entering non-financial data then contact the TIN Call Center at 022-24994650 or write to them at e-tax@nsdl.co.in. If any problem is encountered while entering the financial details at the net-banking webpage of your bank, then you should contact your bank for assistance.
All transmission through NSDL-TIN website is encrypted and is with Secure Socket Layer (SSL) authentication. With respect to the banks, it depends on the security measures provided by the bank for net-banking.
Make Indian Income tax payment online, wherever you are!!!
