How To Pay income tax online? What is the procedure of ePayment of income tax? Can I pay income tax online through credit card or debit card? What are the Steps to ePayment of tax. FAQ of Online tax payment. This article will answer these questions related to the online tax payment.
Now I am an independent financial planner and blogger. I get my remuneration without TDS. Till October 2014, my company TV18 was deducting tax. Now I am getting my full money. Good News? Not really, because I have to pay the tax, I can’t avoid it. Rather, now I have to calculate tax liability myself and also pay the taxes to the government.
Like me, you also need to pay the income tax yourself if you fulfill these criteria.
1. You are earning more than the tax free limit.
2. After availing the exemption and deduction some of your income can be taxed.
3. Tax is not deducted at source.
If you fall into the above criteria, get ready to pay taxes yourself. No one will ask you to pay the tax, you have to act yourself. In such case you have to calculate the tax and pay it to the government. The government will neither calculate tax for you nor it sends bills. But if you avoid the tax or pay less tax, the income tax authorities can assess your income and ask triple of the avoided tax amount.
Hence, to avoid the income tax shock you must deposit the tax on time.
The tax for a financial year should be deposited before the last date of income tax return. Suppose you earn 5 lakhs rupees in 2014-15 and liable to pay Rs 20,000 tax. You must pay this Rs 20,000 to the income tax department before the 31st July of next financial year. (In 2015 the date is extended to the 30 August). You must pay the total tax before filing the income tax return.
How To Determine Tax
You can calculate your income tax liability through the tax calculators. If you have already paid some tax or TDS, you can deduct it from the total tax liability before the online tax payment.
Also Read: Income Tax Slab Rate For FY 2016-17
If you have missed the deadline of tax payment, you must pay income tax with 1% interest for every delayed month.
Should You Pay Income Tax Online?
The income tax is paid to the government through the banks. Almost all the scheduled government banks and big private banks accept the income tax. To pay the tax through banks you need to fill the prescribed Challan. The banks accept the tax and give you the acknowledgment which has the Challan identification number. This CIN is quoted while you efile income tax return.
Earlier the above tax deposit process was done offline. You need to visit the designated bank branch to pay the income tax. But, now you can complete the above procedure from your home using the online tax payment facility.
The e-payment of tax has the following benefits
- No need to stand in long queues for payment of tax or write cheques or fill Challans in four copies
- No need to visit the designated bank branch
Requirements For e-Payment of Tax
The income tax can be submitted within 10 minutes using the online tax e-payment facility. However, you must assure the following things in advance.
- Valid TAN and PAN
- Bank Account in the authorized bank.
- Internet Banking facility
- A good internet connection
- Enough balance in the bank
Authorized Banks for e-payment of Taxes
You can’t pay income tax through every bank. The cooperative, rural and foreign banks do not conduct government business. You must check this list before going ahead for tax payment.
- Allahabad Bank
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- Jammu & Kashmir Bank
- Oriental Bank of Commerce
- Punjab and Sind Bank
- Punjab National Bank
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of India
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
Steps to e-Payment of Income tax
The e-payment of income tax goes through these steps.
- Visit www.tin-nsdl.com
- Click on e-Payment: Pay taxes Online
- Choose the prescribed Challan
- Fill in your personal details
- Choose the bank
- Enter your NetBanking Customer ID and Password
- Confirm the payment
- Print/Save the Challan Identification Number (CIN)
Detailed Procedure of Income Tax Online Payment
Visit www.tin-nsdl.com. Click on the link for “e-payment: Pay Taxes Online“
Select the Challan i.e. ITNS 280, ITNS 281, ITNS 282 or ITNS 283, as applicable. Since you are paying income tax you must choose the Challan 280
In the next page you should proceed in the following manner
- Select the radio button of “(002)NON-COMPANY DEDUCTEES “. This selection is for the most of the tax payers.
- The most important part you must give correct PAN. You need not to give your name. It is taken from the PAN database. It verifies the authenticity of your PAN as well.
- You have to choose the assessment year. If you are paying tax of Financial year 2014-15, the assessment year would be 2015-16.
- Give your address. City, State and PIN code is mandatory to fill.
- Choose the type of payment. In most of the cases, for individual taxpayer, it would self assessment tax.
- Choose the bank in which you have the internet banking facility. If you choose the SBI, you will also get the option to pay through the debit card. Otherwise, the only internet banking method is available.
- Fill the captcha and click on proceed.
Now you will see the confirmation page. Verify it and click at submit to the bank.
Since I had opted for ICICI Bank, I reached to the ICICI bank page. You have to choose the retail login and enter your user ID and password.
Now you need to fill the income tax amount and education cess. To know the income tax and education cess You can use income tax calculator.
Now you will go through the second round of authentication. After this authentication The tax would be paid.
In the next page you would be able to download income tax Challan counterfoil. This counterfoil is the proof of income tax deposit. You can generate this counterfoil till 90 days.
Log out of the internet banking page.
Status Check of Income Tax Payment
You would be concerned whether bank as paid the income tax o the government account. You can check it through the NSDL website. However, you should go to the NSDL after one week. In the status check page you must give the BSR code of the bank, Challan serial number, date of payment and amount. You can find all these information from the Challan counterfoil.
FAQ On e-Payment of Income tax Online
Can I pay income tax through the credit card/ debit card
You can pay income tax online only through the internet banking. Payment through the credit card is not possible yet. Only SBI customers can pay through their debit cards.
Can I Also Pay through the old physical method?
The e-payment is mandatory for audited accounts and all the companies. The individual taxpayer can still pay income tax offline. They can visit the bank with Challan no. 280.
What should I do if my bank does not have an online payment facility or is not an authorized bank for epayment?
If your bank does not have an online payment facility or is not an authorized bank then you can use the account of another person. You can pay the income tax through the internet banking account of your friend or relative, who has the account with authorized bank. However, In the Challan there must be your PAN.
Should I attach the acknowledgment counterfoil with my return?
No, you need not to attach the tax payment acknowledgement with the income tax return. The mere mention of the Challan identification number is sufficient proof.
If there is any problem or error on e-payment of income tax, what should I do?
If you face a problem at the NSDL website while entering non-financial data, then contact the TIN Call Center at 020 – 27218080 or write to
If you face a problem while entering the financial details on the net-banking webpage of your bank, then you should contact the bank helpline.
What if I could not get the Challan counterfoil after the payment?
The banks provide the counterfoil at their portal for later use. The counterfoil remains on your net banking account for 90 days. Otherwise, you can also contact with your bank for duplicate Challan counterfoil.
How can I know whether my tax is paid to the government?
You can verify the status of the Challan in the “Challan Status Inquiry” at NSDL-TIN website after 5 to 7 days of making e-payment. In case of non availability of the Challan status kindly contact your bank.
What if I pay the same tax for some technical reason?
You can get back the extra tax paid instantly. Instead, you can claim tax refund in your income tax return.
I have chosen wrong assessment year in the Challan. How can I rectify it?
For rectifications in Challans you have to contact with the concerned Assessing Officer (AO) of the Income Tax Department (ITD).
I hope now you can easily pay the income tax online using the epayment facility if the income tax department.