How to pay taxes?

The Taxes can be paid by a taxpayer through any one of following modes:

  1. Through Bank (physical),
  2. Online payment.
  1. Paid Through Bank: The taxes due can be paid through specified branches of nationalized banks. A challan is required to be filed by taxpayer specifying his PAN, name, Assessment Year and amount of tax to be paid. Bank will return the challan to the payer affixing its stamp as duly paid. The assessee is required to keep this challan as his personal record.
  2. Paid Through Online mode: If a taxpayer wishes to pay taxes online then he is required to follow below-mentioned steps:

Step 1:- To pay taxes online, click on this link https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp,

Step 2:- There are various types of challans like ITNS 280, ITNS 281, ITNS 282, ITNS 283, ITNS 284 or Form 26QB demand payment as applicable. In case of payment of Income-tax, ITNS 280 will be applicable.

Step 3:- Individual taxpayers are required to click on (0021- Income-tax – other than companies). Then enter PAN and other mandatory details like full name, address, contact No. etc.

Step 4:- There are various types of payments viz. advance tax, self-assessment tax, tax on regular assessment, taxpayer is required to select type of payment as applicable.

Click here to know more about types of Income-tax.

Step 5:- On confirmation of the data so entered, the taxpayer will be directed to the net-banking site of the bank.

Step 6:- The taxpayer has to login to the net-banking site with the user id / password provided by the bank for net-banking purpose and enter payment details at the bank site.

Step 7:- On successful payment, a challan counterfoil will be generated containing challan number, amount paid, name of a bank branch through which e-payment has been made. This counterfoil is proof of payment being made.

Summary
Article Name
How to pay taxes?
Description
The Taxes can be paid by a taxpayer through any one of following modes: Through Bank (physical), Online payment.
Author
Publisher Name
myITreturn
Publisher Logo

Leave a Reply

Your email address will not be published. Required fields are marked *