Taxpayers can pay income tax dues, like self-assessment tax or advance tax online using the e-Pay Tax facility on the income tax portal. All taxpayers can pay directly through net banking, debit card, UPI, or by generating a challan. Once paid, ensure it reflects in Form 26AS and your ITR.Key HighlightsSelf-assessment tax is paid under the minor head ‘Self-Assessment’ (code 300).Payments can be made via net banking, debit/credit card, UPI, RTGS/NEFT, or at a bank counter.Always download the challan (with BSR code & challan number) for ITR filing.Tax payment for Tax Year 2026-27 onwards must be must as per the Income Tax Act 2025 by using new challan forms (ITNS 280N, 281N, 288N), at the time of making payment relating to Assessment year 2026-27.How to e-Pay Tax Online?Here's a step-by-step guide on how to pay tax online through the Income Tax Portal:Step 1: Navigating to 'e-Pay Tax' SectionVisit the Income Tax PortalOn the homepage, locate the 'Quick Links' section on the left side. Click on the 'e-Pay Tax' option or use the search bar to find 'e-Pay Tax'.Step 2: Enter PAN/TAN and Mobile NumberEnter your PAN and re-enter to confirm it. Provide your mobile number and click 'Continue'.Enter the 6-digit OTP received on your mobile number and click 'Continue'.Step 3: Select the correct Assessment Year and Payment TypeSelect the first box labelled as ‘Income Tax’ and click ‘Proceed’ From the ‘Assessment Year’ dropdown, select ‘2025-26’Under the ‘Type of Payment’, select ‘Self-Assessment Tax (300)’ and click on 'Continue'.Step 4: Enter Tax Payment DetailsEnter the payment amounts accurately under the relevant categories.Step 5: Select the Payment MethodSelect the payment method and bank to make the tax payment and press 'Continue'.Payment can be made using internet banking, debit card, credit card, RTGS/NEFT, UPI or you can choose to pay at the bank counter.Step 6: Verify Payment InformationAfter clicking 'Continue', you can preview the challan details.Double-check the payment information for accuracy.Click 'Pay Now' to make the payment or 'Edit' to modify the details.Step 7: Submit the PaymentTick the checkbox to agree to the Terms and Conditions.Click 'Submit To Bank' to proceed with the payment.Step 8: Receive Payment ConfirmationYou will receive a confirmation once your tax payment has been successfully submitted.Note: Remember to download the challan as you will need the BSR code and Challan number to complete the return filing process.Step 9: Declaring Tax Paid DetailsDownload the payment challan from the Income Tax portal.After making the tax payment, update the payment information on ClearTax.Go to the 'Tax Summary' page and click 'Add Paid Tax Details'.Upload the challan or enter the details manually.Once done, your tax payment status will change to 'taxes paid'. Proceed to e-file and e-verify your return on ClearTaxYou may refer to this guide for further steps.Authorised Banks for e-Tax PaymentThe list of banks that can be found on the e-filing portal for e-payment of taxes is as follows:Download Official DocumentList Of Authorized BanksAxis Bank Federal Bank New Bank Kotak Bandhan Bank New Bank HDFC Bank Karnataka Bank New Bank Bank of Baroda ICICI Bank Punjab National Bank Bank of India IDBI Bank Punjab & Sind Bank Bank of MaharashtraIndian Bank RBL Bank New BankCanara Bank Indian Overseas Bank State Bank of India Central Bank of India IndusInd Bank New Bank South Indian bank New BankCity Union Bank New Bank Jammu & Kashmir Bank UCO Bank DCB Bank New Bank Karur Vysya Bank New Bank Union Bank Benefits of e-Tax PaymentThe provision of being able to pay taxes electronically has definitely made paying taxes a lot easier. Some of the benefits of e-Payments are as follows:Saves time and can be done at one’s convenient time, avoiding long queuesTax department records are updated automatically without the taxpayer having to take additional measures to ensure the updating of recordsInstant generation of the receipt of tax paymentVerifying the status of tax payment can be done onlineEligibility for e-Tax PaymentThe following assessees have to mandatorily pay taxes online:All the corporate assessees.All assessees (other than company) to whom the provisions of section 44AB of the Income Tax Act, 1961 are applicable.(renumbered as Section 63 as per the Income Tax Act, 2025, which is applicable from Tax Year 2026-27 onward)Self-Assessment TaxYou cannot submit your income tax return to the income tax department unless you have paid tax dues in full.

The ITR filing process can become complex depending on your residential status, the ITR form selected and the nature of your income. You can file your ITR online through the Income Tax Portal, or using the offline utility and then by uploading it on the portal.The CBDT has enabled online e-filing and excel utility for ITR-1, ITR-2 and ITR-4 for FY 2025-26 (AY 2026-27).7 Simple Steps on how to file ITR OnlineYou can file your ITR following these simple steps:Login to the Income Tax PortalGo to ‘File Income Tax Return’Select the Assessment yearSelect 'Filing Status"Select ‘ITR Type’Select reason for filing the returnValidate the details and e-verifyWhat is ITR?ITR stands for Income Tax Return, in which the taxpayer discloses all the details related to his income, assets, taxes, losses, refunds, etc. for the relevant assessment year.Documents Required for Filing ITRBefore filing ITR, there are a few documents and details that you need to gather in order to file ITR.PAN and AadhaarBank StatementsForm 16Donation receiptsStock trading statements from the broker platformInsurance policy paid receipts related to life and healthBank account information linked to PANAadhaar registered mobile number for e-verifying the returnInterest certificates from banksHow to File ITR Online?Before you start, download both your Form 26AS (Tax Credit Statement) and your AIS (Annual Information Statement) from the e-filing portal. Cross-check every entry against your bank statements, Form 16, broker capital gain statements and rent receipts. If any AIS entry is wrong, submit feedback within AIS itself - this preserves your audit trail and prevents notices later.The step-by-step guide on how to file ITR online for FY 2025-26 through the Income Tax Portal:Step 1: Log in to the Income Tax PortalVisit the Income Tax e-Filing portal and click on Login.

Form 26AS is an annual tax credit statement issued by the Income Tax Department against your PAN. It records all Tax Deducted at Source (TDS), Tax Collected at Source (TCS), advance tax payments, self-assessment tax, refunds and major financial transactions for a financial year. As per the provisions of the new Income Tax Rules, 2026, Form 26AS has been replaced by Form 168, applicable for FY 2026-27. However, for the current filing season, taxpayers should continue to refer to Form 26AS, since it relates to the income earned during the year FY 2025-26.The CBDT has enabled online e-filing and excel utility for ITR-1, ITR-2 and ITR-4 for AY 2026-27 (FY 2025-26). What is Form 26AS?Form 26AS acts as a tax passbook, which contains all TDS deducted against your income in one place. Its scope has expanded significantly over the years, which now includes details of foreign remittances, mutual fund purchases, dividend income, and even your turnover as reported in GST records.Ignoring Form 26AS while filing ITR can be costly. Even a single transaction reflected in the form that goes unreported in your return can lead to an Income Tax notice.

Form 16 is a TDS certificate issued by an employer that shows the tax deducted from your salary and a detailed breakup of your income, exemptions, deductions, and taxable amount for the financial year. It is an important document for salaried taxpayers to verify TDS and file their income tax return accurately, and can be downloaded from the employer or payroll portal once issued.This blog explains in detail about Form 16, which is applicable for FY 2025-26 and preceding years. Form 16 Renamed as Form 130Under the Income Tax Act 2025, Form 16 has been renumbered as Form 130 effective from Tax Year 2026-27 (April 1, 2026) and onwards. For FY 2025-26, your employer will still issue Form 16 as usual.  What is Form 16?Form 16 is a TDS certificate issued by the employer containing TDS deducted on salary, the salary income during the financial year. It serves as a handy document for ITR filing process as it contains various information related to employer, the taxpayer, TDS deducted, income estimate, deductions claimable etc. It is issued under section 203 of the Income Tax Act, 1961.Form 16 is divided into 2 parts: Part A and Part B.

Advance tax is a mechanism wherein tax is calculated on the estimated total income, and paid before the end of the financial year. As per the Income Tax Act, taxpayers with a tax liability exceeding Rs. 10,000 after TDS/TCS for the year, are required to pay advance tax in four installments.  Any non-payment or short-payment of advance tax will attract interest at the rate of 1% per month each under sections Sections 424 and 425 of the Income-tax Act, 2025 (formerly Sections 234B and 234C of the Income-tax Act, 1961).  Advance Tax Payment - FY 2026-27The due date to pay the 1st installment of advance tax payent for FY 2026-27 is 15th June 2026. Taxpayers are required to pay at least 15% of their total tax liability in the 1st installment. Taxpayers opting for the presumptive taxation are required to pay 100% of their advance tax in a single installment before 31st March.What is Advance Tax?Advance tax is a ‘pay-as-you-earn’ scheme of income tax, where taxpayers pay off their tax liability for the year in four installments rather than a one time lump sum payment during ITR filing.

EPF bank account details can be updated in the EPFO portal, or UMANG app. With effect from April 2025, there is no need of employer approval for bank account seeding. If the IFSC code does not match with the bank account number, KYC gets rejected.Details required for KYC UpdateUniversal Account Number (UAN) - active and linked to your mobile numberBank account numberIFSC codeHow to Add Bank Account Details in EPFO?EPF accounts consist of all relevant information relating to an employee’s provident fund. Here is the step-by-step guide on how to add a bank account in EPFO. Following this will enable you to withdraw money from your EPF account hassle-free.Visit EPFO’s member portal.

Fixed Deposits (FDs) interest income are taxed at regular slab rates. Section 80TTB allows a maximum deduction of Rs.50,000 under the old regime for senior citizens who earn interest income from savings account or deposits. Where can I Check my FD Interest Income?More often than not, bank interests are not considered for income tax calculation and tax planning strategies because of their quantum as compared to other major sources of income.But, it is necessary to consider FD interest for tax implications to avoid under-reporting of income and consequent penalties.FD interest can be checked on any of the following.Bank statementsForm 26ASAnnual Information Statement (AIS)Taxpayer Information Statement (TIS)How to Calculate Income Tax on FD Interest?After considering all these sources, the FD interest is added to the income earned.The interest income earned is shown under the head ‘Income From Other Sources’ in your Income Tax Return.Deduction under section 80TTB of the Income Tax Act, 1961 can be claimed if the taxpayer is a resident senior citizen under the old regime.Amount of principal deposited under section 80C of the Income Tax Act, 1961, can be claimed as a deduction under the old regime. Tax is calculated on the respective slab rates of the taxpayer. The tax implications might differ based on the regime he chooses, the age of taxpayer and residential status. TDS, if any deducted from the interest income, is reduced from the overall tax liability. Adjustment of TDS with tax payable might result in reduction of tax payable or refund.FD Interest Deduction under Section 80TTB Resident senior citizens opting for old tax regime can claim this benefit.Interest received from savings account, fixed deposits or recurring deposit can be claimed as a deduction under this section.Maximum limit of Rs. 50,000 deduction is allowed under this section.

The Public Provident Fund (PPF) is a government-backed savings that provides assures, tax-free returns. For the first quarter of FY 2026-27, the interest rate continues at 7.1% per annum. Backed by sovereign guarantee, offering compounding benefits, and enjoying EEE tax status, PPF continues to be a highly secure and reliable option for retirement  planning and tax savings in India. Key Highlights Interest Rate: 7.1% p.a. (FY 2026–27).Investment Limits: Min Rs. 500, Max Rs.

Sukanya Samriddhi Yojana (SSY) is a government backed savings scheme designed to focus on wealth generation for girl child's future education and marriage expenses. SSY scheme is available for girls aged below 10 years, and the scheme offers an attractive interest rate of 8.2% per annum. Parents or legal guardians can start investing from a minimum of Rs. 250 upto a maximum of Rs. 1.5 lakh per year..Sukanya Samriddgi Yojana Key Highlights TableParticularsDetailsInterest Rate8.2% p.a.

Popular reasons for PF claim rejection are incorrect information provided, inactive UAN, insufficient balance in your PF account, not completed minimum period of service and so on. The reason for PF claim rejection can be checked in the ‘remarks’ section of the “Track Claim Status” tab, on the EPFO member portal.How to Check EPF Claim Rejection Reasons?You can check the reason why your EPF claim was rejected by following these steps: The EPFO Member Sewa portal lets you check your EPF account details, including your member profile, nomination information, and UAN status. Login to EPFO member portal > choose “Track Claim Status”You can check in the remarks if there is any reason mentioned for rejection.Online EPF Claim Rejection The following are the common reasons for the rejection of your EPF (Employees' Provident Fund) claim online:Incorrect InformationThe information provided in the online claim form can be incorrect or incomplete for processing a claim, such as bank account details, member's details, or even details regarding employment, and is, therefore, liable for repudiation. Such inconsistencies may lead to rejection of PF claim. Inactive UAN If a claim is submitted with an Inactive UAN or UAN that is not available within the EPF system, the claim will be rejected.Insufficient Balance This means that when the EPF account doesn't hold a balance as per the claimed amount of withdrawal, this claim may as well fall short.Reason for WithdrawalIf the grounds under which the reason for withdrawal does not fall under the eligible categories defined under the EPF Regulations, then the claim will be rejected. For example, claims not covered under the EPF Scheme.Period of ServiceIn case of discrepancy in period of service, the period of service mentioned by him in the claim form should be available to an employer or maintained by the EPFO in their records, so it will be to the extent that it affects the claim.Pending duesIf the member has any dues payable to the EPF organisation or any standing arrears against them, then the claim may be rejected until dues are cleared.Other ReasonsThe claim will be liable for rejection if the employer or issuing authority concerned does not properly attest or verify the claim form.On a more technical note, there might be an instance where a particular submission is rejected due to technicalities or system errors during the submission process.How to Re-apply after a Rejected PF Claim?How to apply again or how to resubmit the claim online if the PF claim gets rejected:First, you must identify the reason for your PF claim's rejection. This information can be found in the PF claim status.