• Investment
  • Car
  • Bike
  • Taxi
  • Term Life
  • Health
  • Travel

e-Tax Payment

The Income Tax Department of India has improved the tax paying facility across the country by many folds. Taxpayers can now pay their income tax online as per their comfort and convenience. The department has made the entire process of paying income tax hassle-free and time saving.

Step by Step to Pay Income Tax Due

Follow the step by step procedure to make e-tax payment.

  • Step 1: Login to the Tin-NSDL portal
  • Step 2: Click the icon for e-payment
  • Step 3: Select the challan for income tax payment (ITNS 280)
  • Step 4: After selecting the challan, you will be redirected to the page where you need to enter the following data
    • Name and address of the taxpayer
    • PAN details for non-TDS payments
    • Year of assessment
    • Major head code
    • Type of payment
    • Select the bank from the dropdown menu
  • Step 5: Once you enter all the details mentioned above, click on the "Proceed" button, and all the information that you have filled will be displayed on the screen for you to verify.
  • Step 6: Verify the details and click on the "edit" button if you want to change any filled details. Click on the "Submit" button, and the system will redirect you to the online banking page of the respective bank.
  • Step 7: Fill in your login details and fill the amount of tax that you intend to pay on the online banking portal. For some bank portals, the tax amount would be pre-filled for you.
  • Step 8: Once the tax payment is made, the same amount will be deducted from your bank account, and the website will display a payment confirmation page, which you can also print for reference. The acknowledgement that you will receive on this page will contain the CIN (Challan Identification Number), which can be used to verify the status of your e-Tax payment.

Prerequisites for e-Tax Payment

In order to pay your taxes online, you must ensure the following:

  • You must have an account with a bank that is authorised to process the tax payments.
  • You must activate internet banking on your account through which you want to make the payment.

Eligibility to make e-Tax payment

With effect from April 1st, 2008, the following assesses are required to pay taxes electronically.

  • All the corporate assesses
  • All assesses other than the company to whom the provision of Section 44AB of the Income Tax Act, 1961 is applicable.

Benefits of online payment of income tax

There are a number of advantages attached to the e-payment of income tax. Some of these benefits are mentioned below.

  • Income tax can be paid at any time from any location as per the convenience of the taxpayer.
  • Challan details are sent directly to the Income Tax Department without going through the hassle of data entry in the bank.
  • Tax can be transferred instantly through your bank account.
  • You can download the challan and receipt and save for the future purpose.
  • An acknowledgement for tax payment is received as soon as the tax amount is deducted from your bank account.
  • Whether your tax payment has reached the Income Tax Department or not can be confirmed through an online enquiry via the official website of the Income Tax Department.

Authorised Banks for e-Tax Payment

Below listed are some of the public and private sector banks in India that provide an e-payment platform for taxpayers for the purpose of income tax payment.

  • Allahabad Bank
  • Andhra Bank
  • Axis Bank
  • Bank of India
  • Bank of Baroda
  • 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
  • State Bank of India and its affiliated banks
  • Syndicate Bank
  • Oriental Bank of Commerce
  • Punjab and Sind Bank
  • Punjab National Bank
  • Vijaya Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank

Frequently Asked Questions

What should I do if I get an error while making e-tax payment?

You can contact TIN via call at 020 – 27218080. Alternatively, you can write an email to tininfo@nsdl.co.in in case you face nay e-payment related issues.

How can I avoid multiple tax deductions from my bank account?

While making an e-tax payment, it is important to check whether the tax amount has been deducted from your bank account or not. In case it is not deducted, only then should you try to make the e-payment again. However, in case the amount gets deducted from your account, but an error is thrown, you should contact your bank for furnishing the payment counterfoil.

Is e-tax payment safe?

Yes. E-tax payment is safe as such transactions are encrypted via SSL (Secured Socket Layer).

I misplaced the acknowledgement receipt received after making e-tax payment. What should I do?

You can contact your bank, and it will reissue a duplicate acknowledgment receipt for the submission of e-tax payment.

What is the ideal time for making e-tax payment?

You can find these details on your respective bank’s official website and can make e-tax payment accordingly.

How do I know if my bank provides this facility?

The list of private and public banks providing this facility is available on the official website of TIN-NSDL. Alternatively, you can get this information from your bank.

What will happen once I confirm the payment of e-tax at my bank’s website?

Your bank will process the transaction electronically by deducting the tax amount from your bank account and issue an acknowledgement indication (CIN). Moreover, you can check the status of the challan in the "Challan status enquiry" section on the TIN-NSDL website using CIN number after a week of making payment.

How can I know that I have successfully completed the e-tax payment?

Apart from the CIN number issued by the bank, you can check your bank account statement to confirm the transaction.

How does e-tax payment benefit me as a taxpayer?

e-tax payment is beneficial to you as a taxpayer as you are not required to visit the bank personally to make a tax payment. Payment can be made online at your convenience from any place where the internet facility is available. Further, you get an acknowledgement online in the form of CIN (Challan Identification Number), which is useful while filing an income tax return.

What are some important dates to remember when paying income tax?

Here are some of the important dates to remember for taxpayers who fall under the tax slab to pay income tax for the financial year 2019-20 and assessment year 2020-21 is mentioned in the table below:

Important due dates Tasks that must be completed Before January 31st Individuals must submit the proof of investment Before March 31st It is the deadline for which any investment can be made under Section 80C of the Income Tax Act, 1961 Before July 31st Due date to file income tax return Between October and November month Tax returns should be verified by this time

Read More About Tax