Income tax payment
can be done through online or manually by furnishing the hard copy
of the challan at the designated bank. The Government has upgraded
itself and introduced e-payment facility for income tax. In this
Blog, we look at the procedure for online payment of income
tax.
Mandatory Online Payment
Private limited company, one person
company and limited company are mandatorily required to pay tax
using internet banking facility. Further, taxpayers other than
company who are liable to get their
accounts audited as per section 44AB are also required to
mandatorily pay income tax online.
Online income tax payment is mandatory for all companies and all
non-corporate taxpayers covered by audit under section 44AB.
However, a person not covered in the mandatory category can
voluntarily pay income tax by using the e-payment mode.
