Comments0 Posted:2023-07-24 15:36:39 ISTUpdated:2023-07-24 15:36:39 ISTWritten by - CreditMantri
The Income Tax Department through its e-governance initiatives has brought tremendous changes in the standard practices of income tax. Faceless assessment, e-proceedings, e-payment of taxes, and many more. The e-payment of income taxes has existed for a long time. But the modes of payment were only net banking and debit cards. Now the income tax department has introduced
UPI and credit cards also as a mode of payment of income tax online. Read to know how.
Additional Read: Income Tax Returns: All That You Need To Know - CreditMantri
Types Of Income Tax Payments
Advance Tax
Self Assessment Tax
Dividend Distribution Tax
Tax Deducted At Source
Tax Collected At Source
Know The Challans For Income Tax Payment
Challan No
Payment Type
ITNS 280
Advance tax,
Self assessment tax
Dividend distribution tax
ITNS 281
TDS
ITNS 282
Securities transaction tax
ITNS 284
Payment of demand or penalty on black money
ITNS 285
Equalization levy
ITNS 286
Income Declaration Scheme,2016
ITNS 287
Pradhan Mantri Garib Kalyan Yojana, 2016
Procedure To Make Income Tax Payment Via UPI Or Credit Card
Through the e-filing website of Income Tax
Visit the income tax department’s official e-filing website.
Find and click on “e-pay Tax” on the left-hand side vertical menu bar.
Enter your PAN for income tax other than TDS, and TAN for TDS payments.
Confirm your PAN or TAN by re-entering the same.
Enter your mobile number.
Submit the mobile OTP.
You will get a display message, “You have successfully verified through mobile OTP”. Now click on continue.
You will see “Income Tax” as the first box. Click on proceed.
Select the “Assessment year’. Once selected, you will see the relevant financial year for the selected assessment year.
Select the “Type of payment (minor head). You will see the applicable major head for the chosen minor head. Click on continue.
Have the break-up of tax, surcharge, education cess, interest, penalty, and other payments and enter them correctly.
You will get the “New payment page” getting displayed where you can see various payment options.
Select the “Payment Gateway” option. Choose one among “Canara Bank, Kotak Mahindra Bank, and Federal Bank”
Once you select, you will get a preview of the challan. Click on “Pay now”.
Scroll down to the terms and conditions page. Click on the terms and conditions checkbox.
Click on Cards and choose your preferred credit card for payment.
Click on UPI and enter your UPI id for payment of income tax.
Once the payment is successful you will get a challan with CIN (Challan Identification Number) where the BSR code, challan date, and Challan Reference Number (CRN) are indicated. Download and save for future reference.
Now, the income tax can also be paid through the e-filing portal while filing your income tax return.
Fill out all the schedules of your income tax return.
The last schedule "Tax on Total Income" will show the “Pay Now” option if you have an outstanding tax liability. This is called a self-assessment tax.
The page will redirect you to the challan page where the necessary fields should be entered.
The fields are pre-entered and you just need to verify if they are right. Click submit
Please follow Steps 12 to Step 17 as explained above.
Track Your Payment Status
You can track the status of your income tax payment from the home page of the official income tax e-filing website.
Click “Know Payment Status” from the left menu bar.
Enter your PAN/TAN, CRN, and Mobile number.
Enter the mobile OTP and click submit.
You can view the status of your income tax payment.
Know the procedure to get an income tax refund How To Claim Income Tax Refund? - CreditMantri
Transaction Charges For Making Income Tax Payment Via UPI Or Credit Card
Charges
Canara Bank
Federal Bank
Kotak Mahindra Bank
Credit card
0.47% plus 18% GST
0.85% plus 18% GST
0.80% plus 18% GST for Master, VISA, and RuPay
2.75% for International cards
No charges for UPI payments.
Advantages Of Paying Income Tax Online
Instant payment confirmation and challan generation.
Easy to use for last-minute filings and payments.
Secured payment gateways authorized by the Income Tax Department.
Lots of options to choose from based on the convenience charges.
Immediate redressal of grievance in case of any failure in payments.
Conclusion
The Income Tax Department, understanding the ease of doing business initiatives of the Government has come up with numerous online payment options for income tax. The payment windows are also user-friendly. You can finish your income tax payment in a jiffy. Skip the long queues in banks and make use of online payment services. Your time and money are well secured.
FAQ of Income Tax :Now pay your tax through UPI or credit card, check how
1:What if my income tax payment failed?
Normally the amount will be credited back in 3-4 business days. Else, keep in touch with the income tax department helpline. Quote your PAN and CRN. The team will help you out with a resolution.
2:How to check the status of my online income tax payment?
Visit the “Know Payment Status” on the home page of the official website of income tax e-filing. Provide the required details and know the status.
3:My payment was successful. But I could not get a CIN.
You can download the income tax payment challan with CIN from the “Know Payment Status” option.
4:Where do I pay income taxes offline?
Visit any of the branches of nationalized and private sector banks and request your relevant income tax challan. Fill out the challan and hand it over to the clerk. He shall return the counterfoil of the challan with the CIN details.
5:What is the assessment year?
It is the year in which the income earned in a financial year is assessed or calculated for income tax purposes. The income of your current financial year 2022-23 is assessed in the next year 2023-24. So, 2023-24 is the assessment year for the financial year 2022-23.
