Making e-payment for income tax? All you need to know!

e payment for income tax

Post flagging off of the Digital India Campaign, almost all physical governmental activities have taken up a new home- online. Aiding citizens to indulge in tax payment or assimilating documents without the hassle of running behind cumbersome paperwork to just fill out an application, has been seamlessly replaced by a simple online click. 

Income Tax

With an indispensability to growth and national advancement, Income Tax is a direct-tax levied by the Government of India on the taxable income earned by Individuals, Organizations, Limited Liability Partnerships, Hindu Undivided Family, Local authorities and any Artificial judicial person.

E-payment facility for taxes was put in motion by the Income Tax department allowing taxpayers to pay direct taxes online. This provides taxpayers with two alternatives-

  • Physical mode-requiring payment made by a hard copy of challan at an authorized bank.
  • E-payment- net-banking payment with an authorized bank.

Online tax payment is not only convenient but also saves time of tax-payers.

What do you need to make tax e-payment?

To pay your income tax online through e-payment you would require:

  • Net banking enabled with an authorized bank. 
  • In case the tax payer doesn’t have net banking facility, the same can be processed through another person’s account, although, tax shall be paid under the tax payer’s name

Why you should opt for e-payment of Income Tax?

When compared with physical tax payment, e-payment comes with a lot of advantages.

  1. Apart from being simple, safe and time saving, online payment can be made at any time from any place. 
  2. E-payment leads to instant transfer of taxable amount from your bank account towards income tax department.
  3. Enquiry of successful Income Tax payment can be made from IT Department’s official website.
  4. E-challan details will directly be sent to the Income Tax Department.
  5. Tax payment receipt will be instantly issued post successful online payment.

Procedure of e-payment of Income Tax

e payment for income tax

Leave a Reply

Your email address will not be published.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