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). 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 ‘2026-27’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. How to Calculate Advance Tax?Here is a step by step guide to ascertain your advance tax liability and instalment amount.Consider your income earned for preceding financial years. Ascertain how much more or less you will earn as compared to preceding years.Consider all your eligible deductions and exemptions.Make an estimate of your total taxable income. Using ClearTax tax calculator, calculate the tax liability under the most beneficial tax regime for you. If your net tax liability exceeds Rs.10,000 for the financial year, you are required to pay advance tax. The below table will help you understand better.ParticularsAmountGross Total IncomeXXX(-) Deductions Under Chapter VIXXXNet Total IncomeXXXTax LiabilityXXX(+) SurchargeXXX(+) Health & Education CessXXXGross Tax LiabilityXXX(-) TDS/TCSXXXNet Tax LiabilityXXXAuthorised 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 Eligibility 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.Self-Assessment TaxYou cannot submit your income tax return to the income tax department unless you have paid tax dues in full.

Taxpayers should file their Income Tax Returns (ITR) in a timely and accurate manner in order to avoid adverse consequences like income tax notices, refund delay, potential additional tax liability and penalties. Common mistakes include ignoring mismatches between data as per income tax records and the return filed, claiming ineligible deductions, or eligible deductions under the wrong category, eliminating meager income like interest and dividend, and so on. 1. Income Tax Notice DiscrepancyTaxpayers have been receiving income tax notices lately, especially related to deductions and exemptions claimed. The Income Tax Department increasingly uses artificial intelligence and advanced data analytics to match every deduction with the source information. Deduction claimed under the wrong section, ineligible deduction is claimed by entering it in other eligible fields, claiming of deduction or exemption without adequate sources, can lead to income tax notices.

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 Samriddhi Yojana Key Highlights TableParticularsDetailsInterest Rate8.2% p.a.

A Unique Document Identification Number (UDIN) is a unique number generated by practising Chartered Accountants for certificates, audit reports, and other attested documents issued by them. Introduced by the Institute of Chartered Accountants of India (ICAI), UDIN helps verify the authenticity of documents, prevents the misuse or forgery of a CA's signature, and enables regulators, banks, and other stakeholders to confirm that a document has been genuinely issued by a Chartered Accountant.What is UDIN?UDIN (Unique Document Identification Number) is an 18-digit unique number generated by a practising Chartered Accountant on the ICAI UDIN portal for certificates, audit reports, and other documents certified or attested by them. Introduced by the Institute of Chartered Accountants of India (ICAI), UDIN helps verify the authenticity of such documents and prevents the misuse or forgery of a Chartered Accountant's signature.How to Register on the UDIN portal?Full-time practising Chartered Accountants (CAs) holding a valid Certificate of Practice (COP) must complete a one-time registration on the UDIN portal before generating UDINs for certificates, audit reports, and other attested documents.Step 1: Visit the ICAI UDIN portal and click “Login”.Step 2: Enter your Username in the format ⟨MRN⟩@icai.org and your SSP password - the same credentials used for the ICAI Self Service Portal.Step 3: Enter the CAPTCHA code displayed.Step 4: Click "Send OTP" - an OTP will be sent to your registered mobile number and email. Enter the OTP to complete verification.Step 5: After successful authentication, you will be redirected to the UDIN dashboard.How to generate UDIN for a document?Once you have logged in to the UDIN portal, follow these steps to generate a UDIN:Step 1: Log in to the UDIN portal using your ICAI SSP credentials (MRN@icai.org), enter the CAPTCHA, and complete the OTP verification.Step 2: From the dashboard, click "Generate UDIN" to start a new request.Step 3: Your member details will be auto-filled. Select the Firm Registration Number (FRN) if the document is being issued on behalf of a firm, or choose "NA/Individual Capacity" if applicable.

Paying your income tax for the first time is a milestone in any citizen’s life. Income tax is the most popular form of direct tax levied and collected in India. For individuals, the taxes are levied progressively, i.e., the tax rate increases as the income increases. Slab rates are fixed for individuals, under old regime and new regime. There are various tax benefits available, using which the person can minimize the final tax liability. Taxes for a particular financial year is usually paid in next year - which is called assessment year.

When your jobs change, having separate EPF accounts under a single UAN is common. However, they dont merge automatically. You need to request EPFO for online transfer of balance to the active PF account. In this article, we will explain how to merge PF accounts seamlessly.Why should you merge your PF Accounts?Here are some advantages of merging multiple EPF accounts: It save money in the long run by consolidating your pension and salary payments into a single account.It also gets simpler to track your expenses and income tax returns.Withdrawal procedures are significantly simplified, any potential delays avoided.Managing multiple EPFO accounts can be a hassle, requiring you to track multiple details.Requisites for Merging PF AccountsIf you are considering merging your accounts, you need to consider certain things. This includes:First, it is imperative to finish the Know Your Customer (KYC) procedure, which entails confirming the bank account, PAN and other related information.Then, you should have a UAN that is linked to your existing EPF account.Before merging your EPF accounts, you should wait for 3 days for your UAN to get activated.However, it is important to note that there is no need to merge right away if you are not required to; if you still want to, you can put it off until later. How to merge PF Accounts Online?Here is a step-by-step guide on how to merge EPF accounts onlineThrough EPFO PortalVisit the official website of EPFO, sign in using your UAN and password.

The Annual Information Statement (AIS) is a summary of key financial transactions and income for the year. For FY 2025-26, it includes details such as TDS deducted, interest earned on savings and fixed deposits, purchase and sale of shares or mutual funds, high-value transactions like property or vehicle purchases, and more.Key Highlights of Annual Information Statement (AIS)Provides a comprehensive view of your financial transactions, including income, TDS/TCS, taxes paid, and high-value transactions.Covers more information than Form 26AS, such as interest income, dividend income, securities transactions, and foreign remittances.Allows taxpayers to review and provide feedback on any incorrect or mismatched information.Helps ensure accurate ITR filing by enabling easy verification of income and tax details reported against your PAN.What is AIS Income Tax?The Annual Information Statement or AIS is a summary of a taxpayer's information as reported by various organizations from which taxpayers have received any benefit, whether in cash, kind or otherwise. It includes new information – interest, dividend, securities transactions, mutual fund transactions, foreign remittance information, etc. for FY 2025-26.Summary of AIS information is in the form of Taxpayer Information Summary (TIS) for ease of filing return (All the information will be pre-filled in your return). Taxpayers will be able to submit online feedback on AIS’s information.

Universal Account Number or UAN is the key to accessing all services related to your EPF (Employees’ Provident Fund) account, such as PF balance check, PF withdrawal, loan against PF, etc. Your UAN remains unchanged throughout your life, linking all your member IDs from different jobs, making it easy to manage your EPF account across multiple employers. To securely access all the EPFO services, a UAN password is essential. Here’s how to change your UAN password in case you forget or misplace it. Key HighlightsYour UAN password is crucial for you to access the following features:Passbook downloadPF transferPF balance & withdrawalOnline claimsService historyKYC updatesGrievance statusWhat is the UAN Password?The UAN password is a secure login credential that you create when activating your account on the EPFO Member Portal.To set it up, you’ll need:Your UAN (Universal Account Number)A mobile number linked to your AadhaarOnce your account is activated, the UAN password becomes the key to accessing and viewing your PF details online securely.How to Change UAN Password Online?If you want to complete a UAN password change or have forgotten your existing password, you can easily change your UAN password online through the EPFO Member e-Sewa portal by following these steps:Step 1: Visit the EPFO Member e-Sewa portal and click on "Forgot Password".Step 2: Enter your UAN, complete the captcha verification, and click "Submit".Step 3: Verify your identity by entering the OTP sent to your registered mobile number.Step 4: Provide the required details, such as your name, date of birth, and gender, and click "Verify".Step 5: Enter a new password that meets the UAN password requirements and confirm it by entering it again.Step 6: Click "Submit" to complete the UAN password change process. You can now log in to your UAN account using the new password. UAN Password Format & ExamplesWhen setting up your UAN password, you must keep the following factors in mind:The password must be at least 7 characters, and it should not exceed 20 characters. Additionally, to strengthen your password, you must use at least one uppercase English letter, one lowercase letter, a special character, a minimum of two digits, and at least four more alphabets. Here are some UAN password examples which can give you some idea before you access the UAN forgot password option:Bikram_321Harish@1990thaKur*89Vaani888#Shruti567@Requirements for UAN Password ResetBefore doing a UAN password reset, you have to ensure that all the following prerequisites are being met:Active UAN: Your Universal Account Number (UAN) should be activated before you reset the EPFO UAN login password. Otherwise, you cannot access the respective EPF account.UAN Account Connected to Your Aadhaar Number: The system verifies your identity when you request a UAN password change link.

Form 15G and Form 15H are self-declaration forms that help eligible resident taxpayers avoid TDS on interest income when their total taxable income is below the applicable exemption limit. Understanding Form 15G and Form 15H eligibility, submission rules, and TDS provisions is essential for effective tax planning and maximizing income from fixed deposits and other investments.Important (FY 2026-27): From April 1, 2026, Form 15G and Form 15H have been replaced by the new Form 121 under the Income Tax Act, 2025. If you are filing for FY 2025-26 or earlier, use Form 15G/15H. For FY 2026-27 onwards, use Form 121.Quick Highlights: Form 15G vs Form 15HParticularsForm 15GForm 15HEligible AgeBelow 60 years60 years and aboveKey ConditionTotal estimated tax liability for the financial year must be NilTotal estimated tax liability for the financial year must be NilWho Can SubmitResident individuals, HUFs, and certain eligible assesseesResident senior citizensValidityValid for one financial yearValid for one financial yearSubmission RequirementMust be submitted separately to each bank, post office, or deductor where income is earnedMust be submitted separately to each bank, post office, or deductor where income is earnedWhat is Form 15G?Form 15G is a self-declaration form for individuals to submit to banks or financial institutions to avoid Tax Deducted at Source (TDS) on interest income, when the total income is below the basic exemption limit.Form 15G is generally used by individuals below 60 years of age and Hindu Undivided Families (HUFs) to ensure that TDS is not deducted on interest earned from sources such as fixed deposits or recurring deposits. Form 15G is valid for FY 2025-26 and previosu years. What is Form 15H?Form 15H is a self-declaration for senior citizens (aged 60 years or above) that can be submitted to banks or financial institutions to avoid Tax Deducted at Source (TDS) on interest income, when the total income is below the basic exemption limit.By submitting this form, the taxpayer declares that their total tax liability for the financial year is nil, so that the payer do not deduct TDS on the interest earned.

In Advance tax system, tax is paid during the financial year, on estimated total income. Advance tax payment is compulsory for taxpayers with a tax due exceeding Rs. 10,000 after TDS/TCS for the year, as per the provisions of the Income Tax Act.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. Non-payment or short-payment of advance tax will attract interest at the rate of 1% per month under sections 424 and 425 of the Income-tax Act, 2025.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. The provisions related to advance tax are covered under section 403 to section 410 of the Income Tax Act, 2025.Who Should Pay Advance Tax?Any taxpayer (including salaried individuals, freelancers, and businesses) whose estimated tax liability for the financial year after TDS /TCS exceeds Rs. 10,000 is required to pay advance tax as per the provisions of the Income Tax Act. Salaried TaxpayersEmployees should review their overall tax liability after considering TDS and include income from all other sources, such as capital gains, interest on deposits, and any additional income earned during the year, to determine whether they are liable to pay advance tax.Senior CitizensSenior citizen taxpayers (aged 60 years and above) are exempt from advance tax payment if they do not have business or professional income.