First of all you should know that ‘is it mandatory to deposit income tax online or not?’ and there are lots questions in your mind. We’ll try to cover all of your questions to solve like how to pay tax online, how to pay income tax offline, how to fill tax Challan and how to deposit Challans in banks.

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Am I require to pay tax online?

Electronic deposit of income tax is mandatory in case of accounts audited and all companies. Otherwise you can deposit income tax offline by filling the paper form i.e. challan No.280 or appropriate challan.

Is only my bank account necessary to pay tax online?

No, you can deposit online income tax from the account of any other person or your own account. There is no restrictions like that. But you must enter the PAN of the person on whose behalf the payment is made. (CBDT Circular No.5/2008, dt.14-7-2008)

Which Way I will use to deposit income tax online?

You can deposit income tax online by making payment through internet banking facility(required user id and password of your bank) and by credit/debit cards.

Which bank Offer e-payment of taxes facility?

There are lots of nationalized and private banks offers e-banking facility. You can contact bank manager to opt for e-payment facility which require user id and password. Some of the following banks offer e-payment facility.

  • Allahabad Bank
  • Axis Bank
  • Bank of Baroda
  • Bank of Maharashtra
  • Canara Bank
  • Coropration Bank
  • Dena Bank
  • HDFC Bank
  • ICICI Bank
  • IDBI Bank
  • Indian BAnk
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • Punjab National Bank
  • State Bank of Bikaner & Jaipur
  • State Bank of Hyderbad
  • State Bank of India
  • State Bank of Indore
  • State Bank of Mysore
  • State Bank of Paitala
  • State Bank of Travancore
  • Syndicate Bank
  • Union Bank of India
  • Vijaya Bank

Detail Procedure to File Income Tax Online

Step 1

Visit www.incometaxindia.gov.in and go to e-Pay Taxes or visit www.tin-nsdl.com and go to e-payment; pay tax online.

Step 2

It will redirect you at https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp. Click on applicable challan out of the following

  • Income & coproation tax -  Challan No./ITNS 280
  • TDS/TCS – Challan No.281
  • Securities Transaction Tax, Wealth Tax, Hotel Receipts Tax, Expenditure Tax/ Other Direct Tax – Challan No.282

Step 3

Clicking on the applicable challan, the relevant challan’s screen will be shown. Now you have to fill the challan detail like PAN, Name, Address, Assessment year, type of payment etc. NSDL will credit our payment as per information we have filed. So ensure that correct PAN is entered. Otherwise it will credit to other account and you can not get refund of your tax.

Step4

Once all details entered and verified. Click on ‘Submit’ button. It will redirect to your net banking website.

Step5

Enter User ID and password given by the bank. It will redirect you on authorization page of e-payment gateway of taxes. All banks has its different procedure, layout of page and display.

Step 6

Enter the amount of tax to be paid with other detail like education cess, interest, penalty etc.

Step 7

Click to proceed or submit. The bank will begin to pay the taxes and debiting the bank. After competing the process it will be displayed the payment detail like CIN, tax amount, bank name, BSR code. All information must be printed and kept with you for future reference.

[box type="tip"]Challan Identification Number(CIN) must be needed in Income Tax Return. Otherwise you can not claim refund or claim that you have paid your due taxes. So it is very important document to keep with you[/box]

See: Document prepared in support of income tax return.

How to verify that my payment is credited to my account?

You can verify your payment by going to NSDL TIN website in the ‘Challan Status Inquiry’. But it will take time to shown for 5 to 7 days.

Note: If you encounter any error during the e-payment of income tax contact at e-tax@nsdl.co.in or call center at 022-24994650.