You cannot submit your income tax return to the Income Tax Department unless you have paid tax dues in full. Sometimes, you may see tax payable at the time of filing your return. This tax is called Self Assessment Tax.
Law mandates that only the Companies & Taxpayers other than companies that are subject to audit under Section 44AB are required to pay taxes online. The remaining taxpayers can pay taxes in physical form by submitting the challan at designated banks. However, you can also avail the e-payment option.
For making e-payment of taxes, make sure you have an internet connection and an internet banking enabled for your bank account. In case you do not have net banking, you can make payment using net banking account of any other person. However, please make sure the taxes are discharged in your name and against your PAN only, for you to get the credit.
For payment of Tax there are two main challans as under -
1. ITNS - 280
2. ITNS - 281
ITNS - 281 is used for TDS and TCS. For payment of Income Tax Challan ITNS - 280 is used.
ITNS - 280 is used for all types of payments e.g. Self Assessment Tax, Advance Tax, Tax on Regular Assessment etc. ITNS - 280 is used by all types of Taxpayers e.g. Individual, HUF, Firms, LLP's, Companies etc.
Please ensure that you fill up the challan form correctly and without any mistakes in PAN Number, Asstt Year, Type of Assessee, Type of payment etc.
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