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 Advanc

Reetu

Dec 11, 2019

Last update on Dec 11, 2019

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 www.incometaxindia.gov.in 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 31^stMarch 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. Click Here to Buy CA INTER/IPCC Pendrive Classes at Discounted Rate

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Reetu

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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.