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06 Jun 2019Posted By: Mudit Handa


6 Super-Easy steps to pay the Income Tax Online

There’s no doubt that the entire process of payment of the income tax as well as filing of income tax returns has been digitalized and has become convenient than ever. 

However, there are still many taxpayers in India who are technically unaware of the process of paying income tax online.

For them, here’s the complete step-by-step process of paying income tax online.

 

Step #1. Visit TIN NSDL online portal.

Click here to visit TIN NSDL income tax e-payment portal.

 

Step #2. Select Challan No. 280

At the NSDL portal, 2 separate columns will be shown, one for TDS/TCS deductions, other for the Non-TDS payments. Click the “Proceed” button below the Challan no. 280 for payment of income tax.

 

Step #3. Select the type & mode of income tax payment.

In Challan no. 280, you need to specify the type of tax, type of payment and Mode of Payment:

 

Key to the Required Fields

Tax Type

Purpose

0020 Corporation Tax

Select if you’re paying income tax for company or OPC

0021 Income Tax

Select if you’re paying income tax for an individual, LLP, Society, Partnership Firm, Trust, etc.

 

Type of payment

Purpose

(100) Advance Tax

If you're paying income tax before 15th March of the Financial Year.

(102) Surtax

The surcharge is an additional charge on tax, if income exceeds a threshold as follows

  • If income of an individual is between ₹50 lacs & 1 crore, surtax @ 10% of income tax will be charged.
  • In the case of companies, if income is between ₹1 crore & 10 crores, surtax @ 7% of tax will be charged.

(106) Tax on Distributed Profit

Select if you're paying corporate dividend tax as a company on dividend distributed to the company shareholders.

(107) Tax on Distributed Income

Select if you're paying tax on distributed income received from equity funds @ 10%.

(300) Self Assessment Tax

If paying income tax after 15th March of the Financial Year.

(400) Tax on Regular Assessment

If you're paying taxes against tax notice received from the Income Tax Authority.

 

Mode of Payment

Purpose

Net Banking

If you want to pay tax through bank account online login.

Debit Card

If you want to pay tax through ATM/Debit Card

 

Step #4. Enter PAN, Assessment Year and Address

 

Now you have to enter your PAN registration number along with the Assessment Year for which you would require to pay income tax.

Then, you have to enter 3 essential aspects of your personal information:

  1. City/district
  2. State
  3. PIN Code

 

Now enter the given captcha code & proceed.

 

Step #5. Confirm the details

Now a window will appear showing your saved details that you had entered. Cross-check and confirm all your details.

 

  • Cross check carefully the financial year* for which you’re paying tax, appearing in a flash as shown below:
  • Click on “I agree” checkbox. Thereafter, click on the button “Submit to Bank”.

*(Financial year: The year for which Income tax is to be paid.

  Assessment year: The year succeeding the Financial year.)


Step #6. Pay online through your bank

After you submit all your details to your Bank,

  • NSDL portal will redirect to the payment gateway of your selected bank. There, you have to Log-in with your Net-banking login credentials.
  • Thereafter, the processed statement of Income-tax payable will appear with the break-up of Income-tax, as shown below:

​

  • Just click Confirm button & your Income tax will be paid to the government.

Isn’t that really easy?laugh

So, timely pay your Income tax and file your Income tax return online and set aside all your worries regarding the heavy penalty.

Our professionals can assist you in filing Income tax return online.

If you need any assistance with respect to Income tax payment or ITR filing online, please feel free to contact us at 8881-069-069.

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Comments



Posted By Himani
Posted Date 2019-06-10 18:01:03

Thanks For describe wonderful blog. Great point,Very informative...


Posted By Mudit Handa
Posted Date 2019-06-11 17:38:58

Thanks, ma'am. We will continue to provide such useful updates in the future as well.


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