The payment of Income Tax is an essential duty of every Taxpayer. Because it helps to build the nation. But why should we bother to stand in a queue? You can pay the Income tax online by using the Challan 280.
Do you want to know, how is it possible? I will tell you. But, before starting, you have to complete some requirements for Online payment.
1. Requirements for Online Tax Payment
- PAN- Your Permanent Account Number
- Payable Tax- You must know the Tax Amount which you have to pay. Note, you must have the data of the tax and cess seprately.
- Access to Net Banking or Debit card payment- To pay the tax, you should have the online payment facility. It can be either internet banking or debit card payment.
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2. Website for Online Tax Payment
You have to access the website of NSDL to pay tax online. The website address is, www.tin-nsdl.com. The exact urls of the online tax payment is given below.
You can also reach to this page through your bank. Every bank link to this page through the netbanking portal.
3. Steps to Online Tax Payment
Basically, there are two methods of Online Tax Payment-
- Through the NSDL website
- Through your Bank portal
We will discuss both of them.
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Through the NSDL Website
Go to the NSDL website, the URL I have mentioned above. Click on Pay Tax Online on the home page of NSDL.
A new page will be displayed where different types of Challan forms are available. But, you have to click on ‘Proceed’ for the Challan No./ ITNS 280.
Now the next page will be displayed in which you have 30 minutes to process the payment.
In the Tax Applicable section, you would have two options.
- Corporation Tax
- Income Tax
The individual taxpayer must choose the second option.
In the type of payment there are 6 options. The professional and businessman who are paying advance tax must choose the first option. It is for the advance tax. The advance tax is paid during the fincial year.
If you pay any outstanding income tax after the end of financial year, it should be paid under the Self Assessment Tax (300) option.
Select the Mode of Payment. Either Net Banking or Debit Card. Now select your bank. There is a long list of Bank names in Net Banking option. However, Debit Card option gives you a list of only 7 Banks.
Enter your PAN number and Assessment Year. Now feed your full Address along with Email ID and Mobile number. In this part, District, State and PIN Code are mandatory.
Enter the Captcha Code and click on Proceed.
Verify the details provided by the TIN (Tax Information Network) of Income tax Department. Tick on the box of I agree and click on Submit to the Bank button. Or if you want to edit any data, click on Edit button.
The Payment page of your bank will be displayed. Where you have to select Internet Banking option or Debit cum ATM Card option. Click on submit.
Login to net banking with your User ID and Password. Or Fill the details of your bank Debit Card at bank’s site. Now make payment according to instructions. Your payment is successful.
On successful payment, the challan counterfoil will be displayed at your screen for your reference. In this challan, you can see CIN (Challan Identification Number) payment details like BSR Code, Tender date, Challan serial number and amount paid. And also the name of the Bank with Bank Reference Number through which you have paid online tax.
Note: You may require to enter these details in your Tax Return Form during the efiling.
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Through Your Bank Portal
Same as through the NSDL website, you can pay the tax through your bank portal by using Challan 280. Here also you get two options of tax payment, viz. Net Banking and Debit card (without login).
Note: You can not pay the tax through the Credit Card.
Let us see, what is the procedure of online payment of tax through the Bank Portal. I have taken the example of India’s largest bank SBI. However, the procedure is almost same for all banks. Only you have to access the website of your bank.
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Firstly, go to the website of your bank. For SBI, type www.onlinesbi.com.
On the home page of SBI, go to the first Tab, ‘Services’. Here you can see the Online Tax/ Payment/ Receipt/ Challan Printing option with other options. Click on Online Tax option.
A new page will be open, where you have to select the ‘OLTAS (Income Tax Department)’ option under the heading of Department of Central Government Taxes/ Payments.
Now click on Tax Payment option under the ‘OLTAS (Income tax Department)’.
The home page of Tax Information Network (TIN) will be displayed, where you can see the different Challans. If you remember, you found this page under the second step of tax payment through NSDL website. So, click on Proceed button of Challan No./ ITNS 280.
Hence, the rest process will be the same as under Online Tax Payment through NSDL Website.
So, this was the procedure of online tax payment through the bank portal.
In short, you can choose any method, which you find more suitable for you. But, you will feel that online tax payment is very much comfortable compared to the offline method. So, go ahead, and make payment of tax hassle free.