Tuesday, December 10, 2019

FAQs on Payment of Taxes

FAQs on Payment of Taxes

1. How to deposit Self Assessment Tax or Advance tax to the credit of Government?

​​​​​Self Assessment Tax or Advance Tax is to be deposited to the credit of Government by using the challan prescribed in this behalf, i.e., ITNS​ 280. The Challan can be downloaded from https://ift.tt/1cBhzMi Tax can be paid in the designated banks through two modes, viz., physical mode, i.e., cash/cheque or e-payment mode by using debit card or internet banking. ​​In case you are not able to download challan after the e-payment, then challan details will be updated in your Form 26AS​ after ​a few days.

2. What is self-assessment tax?

​Tax paid by assessee after the 31stMarch but before filing of return of income is called self- assessment tax .

Self-assessment tax can be deposited through challan ITNS 280 by online mode or by hard copy of challan via the designated bank.

3. What is the timing of E-Payment of taxes?

​​All direct taxes can be deposited any time (24X7) electronically (E-payment mode) by using internet banking or debit card.

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