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Updated on: Dec 14th, 2023
11 min read
Here's a step-by-step guide on how to make tax payment on the Income Tax Portal without logging in:
- Enter the payment amounts accurately under the relevant categories.
- You can refer to the pre-filled challan on Cleartax for the necessary amounts.
You may refer to this guide for further steps.
Here's an updated list of banks that can be found on the e-filing portal for e-payment of taxes w.e.f 28.04.2023:
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:
With effect from 1st April, 2008 the following assessees have to mandatorily pay taxes online.
You cannot submit your income tax return to the income tax department unless you have paid tax dues in full. Sometimes, you may see tax payable at the time of filing your return. This tax is called Self Assessment Tax, which you can pay online to ensure successful e-filing.
You should also pay the interest under sections 234B and 234C along with your tax due, if you are paying tax after 31 March. When you e-file with Cleartax, our system will automatically tell you how much tax you need to pay to file your return. You can also get your return verified by a CA to make sure that you paid the correct amount.
Add income from all sources. Include salary income, interest income, capital gains etc., just like you do at the time of filing your income tax return. If you are a freelancer, estimate your annual income from all clients, and deduct expenses from it. Rent of your workplace, internet bills, mobile bills, depreciation on computers, travel expenses etc. some expenses. Read more information on freelancers and taxes.
Reduce deductions you want to claim from your total income and arrive at your taxable income on your tax return. The deductions that come under Section 80C, 80D, 80E or any other you want to claim. Read more on Section 80C, 80CCC and 80CCD.
Apply the latest income tax slab rates on your taxable income to calculate your income tax due. Reduce any TDS that may have been deducted from your total tax due. And make sure you have paid according to these instalments. You can make these payments online.
Our CAs can calculate your advance tax liability and help you with paying it online. Seeing a large tax outgo? Don’t worry, our CAs can help calculate your freelancing income and make sure your taxes are optimized.
|On or before 15th June
|Up to 15% of advance tax
|On or before 15th September
|Up to 45% of advance tax less advance tax already paid
|On or before 15th December
|Up to 75% of advance tax less advance tax already paid
|On or before 15th March
|Up to 100% of advance tax less advance tax already paid
Non-payment of advance tax can result in penal interest levy under sections 234B and 234C.
Sometimes, you may have to make an income tax payment to comply with an income tax demand notice. If you agree with the assessing officer and are ready to pay the demand, you may do so online. It is also called the tax on regular assessment.
Step 1: Navigate to 'e-Pay Tax' section on Income Tax Portal
Step 2: Enter PAN/TAN and Mobile Number
Step 3: Select the correct Assessment Year and Payment Type
Step 4: Enter Tax Payment Details
Step 5: Select the Payment Method
Step 6: Verify Payment Information
Step 7: Submit to Bank
Step 8: Receive Payment Confirmation
You arrive at your income taxes due by totalling all your income, availing all applicable deductions, determining your taxable income and then calculating your taxes at rates applicable to the income slab you fall under. As a next step, if your income falls between Rs 50 lakh and Rs 1 crore, a surcharge of 10% would apply, and if your income exceeds Rs 1 crore, a surcharge of 15% would apply on taxes due. Further, 4% of taxes due (plus surcharge if any) will have to be added by way of health and education cess. If your income during a year is less than Rs 5 lakh, you are eligible to claim a rebate under Section 87A up to Rs 12,500 or taxes due, whichever is lower.
The law mandates that only the following taxpayers must mandatorily pay their taxes online: a. Companies b. Taxpayers other than companies that are subject to audit under Section 44AB. The remaining taxpayers can pay taxes in physical form by submitting the challan at designated banks. However, you can also avail the e-payment option as it is easy and saves time too.
Definitely. Not only does e-payment save time, but you can also avail the facility anytime and anywhere. Further, unlike the physical mode of payment where the credit of taxes paid goes to the government at least after a day only, online payment gives credit to the government immediately.
For making e-payment of taxes, make sure you have an internet connection and internet banking enabled for your bank account. In case you do not have net banking, you can make payments using the net banking account of any other person. However, please make sure the taxes are discharged in your name and against your PAN only, for you to get the credit.
These days, the online facility of payment has been enabled for almost all kinds of taxes. Here are some taxes that can be paid online:
Even if you have been cautious while paying taxes, you may end up making a mistake, i.e. you may choose the wrong assessment year at the time of making payment. The major cause for such a mistake to happen is not knowing the meaning of the term ‘assessment year’. Assessment year means the year in which your taxes are assessed. Precisely, it is the year following the year for which you are paying the taxes. If you are paying taxes for the year 2021-22, the assessment year to pay this tax will be 2022-23.If you have chosen the assessment year incorrectly, follow the below steps:
Step 1: Include the payment details when filing your income tax returns for the year, even if the assessment year chosen during tax payment is incorrect.
Step 2: Request your jurisdictional assessing officer to correct the challan regarding the assessment year error. You can find the details of your assessing officer on the e-filing website of the income tax department. If you have recently made the payment, you can ask the bank to rectify the challan within 7 days of the deposit date.
Step 3: When the assessing officer (AO) processes your returns, he most probably issues a notice as the payment details do not match with the records.
Step 4: Respond to the AO, providing details of the error made during tax payment.
Step 5: Submit a rectification request under Section 154.
Step 6: The AO has the power to make the required corrections in your return if he is convinced with your rectification request. Once approved, the AO will make the required changes in your return and close it.
Multitasking between pouring myself coffees and poring over the ever-changing tax laws. Here, I've authored 100+ blogs on income tax and simplified complex income tax topics like the intimidating crypto tax rules, old vs new tax regime debate, changes in debt funds taxation, budget analysis and more. Some combinations I like- tax and content, finance & startups, technology & psychology, fitness & neuroscience. Read more
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