Income tax payments can be done online by a person who is having net banking facility in any approved bank like HDFC, SBI.
If you do not have net banking account then you can use your friend’s or relative’s or any other individual’s bank account for payment of your tax. However, while paying, you have to enter your own PAN number or his or her PAN number on whose behalf tax payments are made.
You can not pay your taxes online by using your credit card. This facility is not available till date.
We hope income tax department will also be able to enable this facility so that an individual can pay taxes online by using credit card.
One can follow following steps for payment of income tax or depositing TDS.
Keep your Net Banking login details ready
Before preparing for e-payment of tax, you need to check your mode of payment first. If you have net banking facility then keep your account ID and password ready to enter when system asked for it.
Following banks are authorized for e-payment of tax ;
- Indian Bank
- Punjab and Sind
- State Bank of Bikaner & Jaipur, Hyderabad, Mysore, Patiala, Travancore
- United Bank of India
Select Challan for payment of tax
You need to select the relevant challan as applicable to you to fill up details.
After filling up, the challan will have an online check for PAN/TAN validity. After validating the details, it will allow you to make payments. For this reason, before payment, you need to double check your details shown on the challan.
Here are the challans available for e-payment of tax. You need to choose the one that suits your need.
|Challan No.||Applicable to|
|281||TDS / TCS from corporate or non-corporate|
|280||Payment of income or corporate tax|
|282||Payment of Security Transaction, Hotel Receipts , Estate Duty, Interest, Wealth Tax, Expenditure/Other direct taxes & Gift tax|
|283||Payment of Banking Cash Transaction and Fringe Benefits Tax|
|26QB||Payment of TDS on sale of property|
We use challan 280 for payment of self assessment or advance tax.
Fill up PAN and Tax Details in Challan
On submission of the challan, system will be asking for a confirmation of the details that you entered. Then system will take you to the net banking site that you selected at the beginning. Please make sure that the PAN number and assessment year has been filled up correctly.
Make payment of tax
You need to login to your bank net banking account and make the tax payment that you want to make. On successful payment of tax a counterfoil will be generated with the details of making payment.
Have that counterfoil as a proof of payment of your tax. While making payment make sure to mention tax and interest amount separately.
Details in the tax payment acknowledgement copy such as BSR code of the bank, date of payment, Serial number of the challan and amount paid will be required while filing your income tax return.