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How to Pay Your Taxes Online - India

This is a discussion on How to Pay Your Taxes Online - India within the General forums, part of the :- Mature Discussions -: category; How to Pay Your Taxes Online - India As March is looming closer, are you dreading finding a tax consultant ...

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  #1  
Old 07-19-2012
Kiran
 
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Award How to Pay Your Taxes Online - India

How to Pay Your Taxes Online - India



As March is looming closer, are you dreading finding a tax consultant to file your returns? Don’t worry! You no longer have to hunt down some laid-back, untrustworthy fellow because you can do it yourself. Now file your taxes online in the comfort of your home. Read on to find out how.

What do I need for e-payment of taxes?

All you need is access to the World Wide Web and an e-banking account. If you don’t have one, check if your bank provides an e-banking facility. (Click here for a list of banks which do.)

If it doesn’t, no problem. Ask your friend who has an e banking account to do it for you. Just make sure to pay her.

Also, be sure to fill in your PAN card number correctly! One of the most common errors that people make while filing their returns is that they enter their PAN number and their assessment year incorrectly. This leads to a lot of confusion,” says Chief Financial Planner, Arvind Rao of Dreamz Infinite Financial Planners.

Why is this better than normal tax payment?

Rao explains that, “E-payment of taxes is very convenient as you can pay at any time, whenever you are free, even if it’s past banking hours. You can also pay your taxes on the last day as you get the challan immediately." Whereas, physically paying taxes means doing it two to three days in advance and waiting for the challan. But it will be better not to wait for the last moment to pay your taxes online.

“If you wait till say 8 pm (post banking hours) on the last day to pay your tax and the website goes down due to heavy network traffic, then you’ll have a problem,” adds Rao.

How do I do it?
1. Log on to NSDL-TIN website
2. You will see a list of online services provided by the Income Tax dept. Click on ‘e-payment: pay taxes online.’
3. Click on the required challan.
4. A form will appear on the screen. Fill in your details like:
a) PAN for non-TDS payments and TAN for TDS payments
b) Name and address of the taxpayer
c) Assessment Year
d) Major Head Code
e) Minor Head Code
f) Type of payment
g) Select the bank name from the drop down provided

Note: In case of challan no. 280, 282 and 283 the Permanent Account Number (PAN) needs to be entered. In case of challan no. 281 Tax Deduction/Collection Account Number (TAN) needs to be entered. Please ensure that you enter PAN/TAN correctly, as this is extremely important for further processing. The system will check the validity of PAN/TAN. In case PAN/TAN is not available in the database of the Income Tax Department then you cannot proceed with the payment of tax.

5. Once you have filled all the necessary details correctly, click on PROCEED button. TIN system will display your name and information with the PAN/TAN number that you’ve entered.
6. Once it appears, check if all your details are correct. If it isn’t, you don’t have to panic. Just click on “EDIT” to correct the same. Verify again if the details are correct and then click on the “SUBMIT” option. This will link you to your bank’s net-banking facility. You will have to log in to your account by entering your login ID and password/PIN which is provided to you by the bank. Now you will have to enter the amount of tax that you have to pay and your bank account number. After verifying this, confirm the payment.
7. The bank will process your online transaction and you will receive a printable acknowledgement which will contain your Challan Identification Number (CIN). And there, your tax has been paid!

How do I verify the payment?

If you are a little paranoid about the transaction having gone wrong, besides the CIN given to you, you can check your bank statement online to check if your tax has been duly paid.

Is it safe?
All transmission through NSDL-TIN website is well protected. The rest depends on the net-banking security provided by your banks. So make sure that the net-banking facility provided by your bank is a secure one.

Errr…but?
If you have any queries, it shall most certainly be cleared here

And if you still have a query, write to e-tax@nsdl.co.in

Made an “oopsie”?

If you face any problem while at NSDL website then contact TIN Call Center at 020-2721.

If you encounter any problem while entering the financial details at the net-banking webpage of your bank, then you should contact your bank for assistance.

So get net-savvy and file your returns online!
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  #2  
Old 01-28-2016
apsarasisodia
 
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Thank you for the information about taxation. People in India pay their taxes but some of the the people who hide their salary so that they don't have to pay their taxes. The tax paid are used in the development of the country. So, don't hesitate in paying your taxes.
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