Online Tax Payment in India | Taxation system in India
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Online tax payment in India

online tax payment in India

Technology makes it easier to complete important mundane tasks from the comforts of your home. One such task is of income tax payment. The taxation system in India has made it easier to pay income tax using the online tax payment in India. Thus, more citizens are filing their returns thereby contributing to the national development.

Also, some citizens have a few queries, like:

  1. What are the Benefits of Online Tax Collection In India?
  2. How you enjoy the benefits of Digital India as an Indian Citizen?

Benefits of Online Tax Payment in India

  • To begin with, you can pay tax from anywhere in the country
  • Pay taxes anytime; i.e. 24*7*365
  • Furthermore, one can pay taxes on behalf of a firm or company
  • There is no need to submit a physical challan
  • Additionally, you also receive the cyber receipt instantly.

Taxes paid through Online payment in India 

  • Income-tax
  • Corporate tax (i.e. income-tax paid by a company)
  • Tax deducted at source (TDS)
  • The tax collected at source (TCS)
  • Securities Transaction Tax (STT)
  • Wealth Tax
  • The gift tax, expenditure tax, and other direct taxes

Documents Needed for Filing Income Tax Returns in India

  1. Choosing the applicable ITR form
  2. Linking Aadhaar with PAN
  3. For Salaried Employees
  4. Documents related to interest income
  5. Form 26AS
  6. Section 80 for Investments
  7. Other Investment Documents
  8. Documents Required to Claim the Expenses as Deduction.

income tax payment

Step by Step Guide to Online Tax Payment

  1. Visit the online tax e-payment website
  2. Enter the website of online tax payment. Then, open the corresponding Challan based on your payment type
  3. Choose suitable Challan and provide accurate details
  4. Select the bank from the drop-down for online income tax payment
  5. Next enter the verification code appearing on the screen
  6. Then click on the proceed button
  7. A new page with the details provided by the taxpayer in the Challan will appear. It has the name of the taxpayer according to the database of the Income-tax Department
  8. Ensure that the name and other details are correct. Then proceed towards payment by clicking on the ‘Submit to Bank’ button.
  9. After completing the transaction, the screen will display the receipt of payment
  10. The receipt will contain the Challan Identification Number (CIN) and other data. Additionally, taxpayers should preserve the hard and the soft copy of the Challan for the record.

Challan Check

Challan Check is easily conducted by a taxpayer. Below details are accessible by entering the CIN and amount:

  • BSR Code
  • Date of Deposit
  • Challan Serial Number
  • Major Head Code with description
  • TAN/PAN
  • Enter the Name of Tax Payer
  • Received by TIN on (that is the date of receipt by TIN)
  • Do the verification that the amount entered is accurate 

TAN Based Check

Get a quick look at TAN based check, Challan Tender Date range for the particular year. Thus, one can proceed to the following details:

  • CIN
  • Major Head Code with description
  • Minor Head Code
  • Nature of Payment

An individual or a business entity can simply pay their taxes using the taxation system in India. The online tax collection in India is a convenient system. It is easy to regulate. Additionally, it attains maximum taxpayers through the online payment system. Thus, an individual or a business entity can easily contribute to national development from the comfort of their home or office.

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