Taxes* are an essential source of revenue for the government that helps in the country’s development. So, paying taxes on time must be a priority for you. Before the digitisation era, filing income tax* returns was a cumbersome process that took significant time and effort. Today when everything goes digital, tax* payment has become a hassle-free process.
This article will tell you about the income tax challan 280 online payment.
With the introduction of the e-tax* system by the Income Tax Department, you can pay your income tax* either online or by visiting designated bank branches through a cheque/ demand draft/cash. Whatever the mode of payment, you must submit challan 280.
Challan 280 , or ITNS 280, is used for Income Tax* payments which may include advance tax*, self-assessment tax*, surcharge, regular assessment tax*, etc., levied on companies, partnership firms, individuals, etc. For offline payment, you can fill out the challan 280 form with relevant information and submit it to the bank with the income tax* payment.
To download the challan 280 form, visit the website: https://www.incometaxindia.gov.in/Pages/default.aspx
However, if you wish to submit your challan 280 online, you need to follow the steps below:
The Income Tax* Department allows taxpayers to check the challan 280 payment status. The facility helps to know if your income tax challan payment made online/offline has successfully reached the Income Tax* Department. You can verify your payment through the link given:
https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayer
It takes some days to display your payment on the link given. So, after a few days of the payment, you can check the payment status by providing your Challan Identification number and other required details.
Advance tax* is payable if the taxable amount due is ₹10,000 or above in a financial year. Your employer makes the tax* payment with the Tax* Deducted at Source if you are a salaried individual. Freelancers and business persons pay advance taxes on their own. The following incomes are eligible for advance tax*:
Self-assessment tax* is the payable amount due while filing the ITR. You can file the income tax* return successfully only after paying the self-assessment tax*. You are liable to pay interest under Sections 234B and 234C if taxes* are paid after the end of the financial year.
Income tax* paid in response to an income tax* notice is called the outstanding demand payment. You can pay these taxes online after permission from the assessing officer.
Now you know about the challan 280 payment online. So, ensure you pay your taxes* on time with a hassle-free process. Also, know the types of taxes* to avoid mistakes while filling out the challan 280 form.
So, buy a suitable life insurance plan with Tata AIA life insurance company to give your loved ones a protective financial shield along with tax* benefits. With an easy claim settlement process, the life insurance company offers a range of insurance policies tailored to suit your needs and cost. L&C/Advt/2022/Aug/1882