Select the challan under which you need to pay your taxes
After selecting your challan, you will be redirected to a page where you will have to populate the following details:
– PAN for non-TDS payments – Name and address details of taxpayer – Year of Assessment – Major head code – Minor head code – Type of payment – Select the bank from the drop down available on the screenIf all the data has been validated a confirmation screen will appear. On confirming the data, you will be directed to the net banking page of the bank.Enter the login credentials to access your net-banking site and enter payment details at the bank site.On successful payment a challan counterfoil will appear on your screen which contains the CIN, payment details and bank name through which e-payment has been made. This counterfoil is evidence of tax payment being made.
3. Eligibility for e-Tax Payment
With effect from 1st April, 2008 the following assessees have to mandatorily pay taxes electronically.
All the corporate assesses.
All assesses (other than company) to who the provisions of section 44AB of the Income Tax Act, 1961 are applicable.
4. Benefits of e-Tax Payment
The 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 queues
Tax department records are updated automatically without the taxpayer having to take additional measures to ensure the updation of records
Instant generation of the receipt of tax payment
Verifying the status of tax payment can be done online
5. Banks Authorised for e-Tax Payment
Allahabad BankAndhra BankAxis BankBank of BarodaBank of India Bank of MaharashtraCanara BankCentral Bank of India Corporation Bank Dena bankHDFC BankICICI BankIDBI Bank LimitedIndian Bank Indian Overseas BankJammu and Kashmir BankOriental Bank of CommercePunjab National BankState Bank of Bikaner & JaipurState Bank of HyderabadState Bank of IndiaState Bank of IndoreState Bank of MysoreState Bank of PatialaState Bank of TravancoreSyndicate BankUCO BANKUnion Bank of IndiaUnited Bank of India Vijaya Bank