The Income Tax Department has implemented several initiatives to make the process of filing an Income Tax Return (ITR) simpler during the past few years.
On the taxpayers’ income tax e-filing portal, the e-pay tax feature has been activated. There are many ways to pay income taxes, including debit/credit cards, pay-at-bank counters, online banking services, UPI, and RTGS/NEFT.
Currently, e-paying taxes may only be done through a small selection of recognized institutions, such as Federal Bank, Bank of India, and Kotak Mahindra Bank. It should be mentioned that the Kotak Mahindra Bank Payment Gateway is the sole means to pay taxes using apps like GPay and Amazon. The Income Tax Department has implemented a variety of initiatives over the past few years to streamline the Income Tax Return (ITR) filing process.
The procedures for using the e-pay tax option on the income tax electronic filing site to pay advance tax using various payment options are as follows:
- Open the income tax e-filing portal and enter your password to access it.
- Click on the “New payment” option under the “e-pay tax” option after choosing it from the “e-file” menu.
- Next, select the “Proceed” link.
- Select the assessment year (AY 2023–24) and the tax payment you must make (Advance Tax). then select “proceed.”
- Provide the tax break up you need to pay, that is surcharge, cess, tax, etc., and click on “Continue”.
- A total of five options, including debit cards, net banking, RTGS/NEFT, pay-at-bank counters, and payment gateways, would be presented for paying taxes. Now select your preferred option.
Net Banking
- To pay taxes with net banking, choose any of the approved banks and click “proceed”.
- After that, if the information in the preview is accurate, press “Pay now” or “Continue.” You would now arrive on the bank’s login page.
- Using your net banking login information, finish the payment process.
Debit Card:
The approved banks have not yet made this option available. However, it is expected that it will function just as it does on the NSDL website.
NEFT/RTGS:
- To pay taxes offline at the branches, one can use any bank that offers RTGS/NEFT services. Select “Continue” after selecting “RTGS/NEFT”.
- If the information shown in the preview is accurate, press “Pay now” or “Continue.”
- Within 15 days of submission, the signed copy of the Challan Form must be presented before the bank branch for payment.
Pay at the Bank counter:
- With this option, you can pay through authorized banks using cheques, cash, or demand drafts. Select a valid bank and payment method before tapping “Continue.”
- If the information shown in the preview is accurate, press either “Pay now” or “Continue.”
- Within 15 days, the signed copy of the Challan Form and payment method must be delivered to the branch of the chosen authorized bank.
Read More: 5 COMMON PROBLEMS FACED BY SALARIED EMPLOYEES IN FILING ITR & THEIR SOLUTIONS
Payment gateway:
- Choose the gateway of any of the banks for remitting taxes through various options. You can pay through net banking, debit/credit card, or UPI. Choose any payment gateway and continue.
- After that, tap on “Pay now” or “continue” if the accurate details are seen in the preview.
- You end up on the respective bank payment gateway after accepting the terms and conditions. Choose the appropriate payment mode for remitting the taxes and complete the payment process.
- You will get a message of confirmation on your email ID and phone number registered with the e-Filing portal.