e-Payment of Tax & e-Filing

e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a Net-Banking account with any of the Authorized Banks.
 
Select Application Challan
TDS / TCS
CHALLAN NO./ITNS 281 (Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates)
Non- TDS / TCS
CHALLAN NO./ITNS 280 (payment of Income tax & Corporation Tax)
CHALLAN NO./ITNS 282 (payment of Security Transaction Tax, Hotel Receipts Tax, Estate Duty, Interest Tax, Wealth Tax, Expenditure Tax /Other direct taxes & Gift tax)
CHALLAN NO./ITNS 283 (payment of Banking Cash Transaction Tax and Fringe Benefits Tax)
 

*e-Payment of tax facility is for making tax payment through net banking facility or through internet by using credit/debit cards.

 * Assessees required to get their accounts audited u/s 44AB & all co’s are mandatorily required to make e — payment of tax.

Procedure for Paying Tax Online

* Log on www.incometaxindia.govin and click on ‘Pay TAXES ON LINE’ or go to www.tin-nsdl.com and click on the icon e — payment: Pay taxes online.

* A screen displaying names of the banks which have e—payment facility will appear. Click ‘Please Click Here’ at the end of list.

* Select relevant following challan:

* Challan No./ITNS 280 payment of Income tax & Corporation Tax.

* Challan No./ITNS 282 payment of Securities Transaction, Hotel Receipts, Wealth, Expenditure /Other direct taxes.

* Relevant challan will appear on the screen. In case of payment of Tax by co.’s click code (0020) and in case of non- corporate assesses click code (0021). Enter the following data:

(1) PAN

(2) Name & address of the Tax Payer with PIN code.

(3) Assessment Year.

(4) Type of payment

* Select the bank name from the list.

Click on ‘PROCEED’ button. A confirmation screen will appear displaying the Contents entered along with the ‘Name’ as appearing in the database of IT Department with respect to the PAN entered.

* Log on to net banking site of the bank with the User ID and Transaction Password provided by the bank. The particulars entered will be again displayed.

Enter the amount of tax to be paid with exact details of income tax, surcharge, Interest, penalty, education cess etc
 

ELECTRONIC e-FILING OF IT RETURNS

All companies & partnership firms whose books of accounts are audited u/s 44AB of IT Act have to compulsorily file their IT Returns electronically. The process is like this:

1. I.T Dept. has come out with electronic versions of the income tax returns.

2. All the fields of the return need to be filled with the data of the entity.

3. Once filling of the data is complete, a process of electronic validation of the file needs to be done to check for any non technical errors & mandatory columns which are left blank.

4. After identification, mistakes are rectified & validation scrutiny is done again.

5. Only when validation is 100% successful, the electronic return is converted into a form in which it can be uploaded on the income tax website.

6. The file can be uploaded in 2 ways:

a. By Inserting Digital Signature or

b. Without Digital Signature.

7. When the e-return is signed by using digital signature & uploaded on the Income tax website, it completes the process of e-filing of 1.1. returns. Acknowledgment is generated by dept.’s website which has to be preserved as proof of filing.

8. When the e-return is not digitally signed, but uploaded on the IT. dept. website, ITR-V form is generated, the copy of which will have to be physically filed within 30 days after physically putting signatures on them. IT. Dept. puts the acknowledgement seal & date on the copy, which needs to be preserved as proof of filing the income tax returns.

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