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e-Tax Payment – Pay Tax Online in India

Updated on :  

08 min read.

Keeping pace with the evolving technology and our dependence on it, the income tax department has allowed for online payment of taxes.

Prerequisites for e-Tax Payment

To be able to pay your taxes online one must ensure the following:

  • You must have an account with a bank which is authorised to process the tax payments
  • You must have internet banking activated on the account through which you want to make the payment.

Procedure of e-Tax Payment

  • Login to the tin-nsdl portal for e-payment
  • 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 screen – If 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.

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.

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

Banks Authorised for e-Tax Payment

  • Allahabad Bank
  • Andhra Bank
  • Axis Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena bank
  • HDFC Bank
  • ICICI Bank
  • IDBI Bank Limited
  • Indian Bank
  • Indian Overseas Bank
  • Jammu and Kashmir Bank
  • Oriental Bank of Commerce
  • Punjab National Bank
  • State Bank of Bikaner & Jaipur
  • State Bank of Hyderabad
  • State Bank of India
  • State Bank of Indore
  • State Bank of Mysore
  • State Bank of Patiala
  • State Bank of Travancore
  • Syndicate Bank
  • UCO BANK
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank

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