e-payment of taxes

Anil Goel (Querist) 26 September 2008 This query is : Resolved
dear friends
as u all know the ministry of finance has issued a nitification regarding mandatory e-payment of taxes. but most of the assesses are unaware of it & they deposit their income tax in the banks as they r doing in the past. i want to know that the persons who deposit thier income tax in the banks directly are entitled for the claim of payment or not

thanks

Anil Goel
Punjab

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Guest (Expert) 27 September 2008
They are entitled. CAsh payment. cheque payment and credit through bank by net transfer, email advice, bank transfer and e payment all are valid.

Adv.Shine Thomas (Expert) 29 September 2008
E-payment of taxes is a facility provided to the taxpayers to make income tax payments through internet by using net banking facility.There are 29 banks in India offering this facility at present.
It is mandatory(i) in case of all corporate assesses (ii)in case of all assesses(other than company)where provisions of sec.44AB(Tax Audit)of the Income Tax Act is applicable.

Pre-Requisites

. Valid TAN and PAN
. Internet Banking Account
. Good Internet Connection
. In case of TDS the amount of payment should be split based on;(a)Type of deductee (b)Nature of payment(ie,for each sec. like 94C,94J etc for Companies and for non-Companies separately)
. Sufficient balance in the Bank to cover the amount of payment for immediate transfer.
On successful payment,a challan counterfoil will be displayed containing CIN,payment details and bank name through which e-payment has been made.This counterfoil is the proof of payment being made.Avoid using browsing centres for making e-payments as there are chances of fraud.You can check online if your money has actually reached the Income Tax Department.For this you have to go to https://tin.nsdl.com

rajesh garg (Expert) 10 October 2008
ya its necessary as per provided under i.t.act but if u hv deposited tax directly to the bank then after income tax dept. is bound to give credit of deposited amt.

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