Monday 16 November 2015

FAQ On E-payment - 1

This is a facility provided to the taxpayers to make income tax payments through internet, using net-banking facility.
You can use the facility if -
a) You have a bank account with net-banking facility, and
b) Your bank is amongst the banks that provide the e- payment facility.
It is mandatory for the following types of assesses to pay tax online with effect from April 1,2008.
a) All the corporate assesses.
b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable.
Yes, it is mandatory for below Assessee to make the TDS/TCS payment online
a) All the corporate assesses.
b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable.
The list of banks providing this facility is available on NSDL-TIN website. Alternatively you may get the information from your bank.

In case your bank doesnot have an online payment facility or is not an authorized bank then you 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).

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