Thursday 27 July 2017

Everything you need to know about online tax payment

Nowadays you don’t need to fill up cumbersome details or wait in the queue with other tax payers to pay your tax. You can pay your tax online.  To pay taxes online, you have to log in to the http://www.tin-nsdl.com > Services > e-payment: Pay Taxes Online or you just have to click the tab "E-pay taxes" provided on the said website. Provide a proper link of e-payment.

The next step would be to select the pertaining challan i.e. ITNS 280, ITNS 281, ITNS 282, ITNS 283, ITNS 284 or Form 26 QB demand payment (only for TDS on the sale of property) as applicable.
Once that is done you have to punch in the PAN / TAN (as applicable) and other mandatory challan intricate details like accounting head under which payment has been made, the address of the person who is paying the tax and the bank through which payment is to be done etc.

When you have submitted the data that you had entered, there will be a confirmation screen will be displayed. If PAN / TAN is valid as per the ITD PAN / TAN master, then the full name of the taxpayer as per the master will be displayed on the confirmation screen.

On confirmation of the data so entered, the next step will be that you or the taxpayer will be directed to the net-banking website of the particular bank.

The taxpayer has to login to the net-banking site with the user id / password provided by the bank for net-banking purpose and punch in the details of the payment that is to be made at the bank website.
When the payment is successful, a challan counterfoil will be shown containing CIN, payment details and bank name, this is the same bank through which the electronic payment has been made. This is also the counterfoil and is also a proof that the payment of the tax has been done.

These steps that facilitate an easy online tax payment have eased a lot of difficulties and paperwork for the tax paying citizen of the country. All these latest developments in the realm of the Prime Minister Mr. Narendra Modi’s call to make a digital India. These latest developments are all an indication that India is slowly but steadiliy is moving towards a developmental goal that has been dreamt about by the Prime Minister of the country.

The online method of payment of taxes is being accepted widely by all and sundry. Everyone has been talking high of the online tax payment initiative and there has been a massive response from people all over the country and that is perhaps one of the biggest achievements for the BJP led government in the country.

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