The Income Tax department provides e-tax payment facility through its OLTAS service on the tin.nsdl website. This guide will help you understand how you can use this service to make payment of various types of taxes.
OLTAS, also known as Online Tax Accounting System is an initiative of the Income Tax department to receive information from banks and maintain records of tax paid by the taxpayers through banks by uploading challans online.
You can pay taxes online using this facility if you have an operational account with access to internet banking (net banking) facility in a bank authorised to process tax payments.
It is mandatory for the following parties to make the payment of taxes electronically:
e-Payment of taxes can easily be done by following these simple steps:
|List of Banks|
|Allahabad Bank||Andhra Bank||Axis Bank|
|Bank of Baroda||Bank of India||Bank of Maharashtra|
|Canara Bank||Central Bank of India||Corporation Bank|
|Dena Bank||HDFC Bank||ICICI Bank|
|IDBI Bank Limited||Indian Bank||Indian Overseas Bank|
|Jammu and Kashmir Bank||Oriental Bank of Commerce||Punjab National Bank|
|State Bank of Bikaner & Jaipur||State Bank of Hyderabad||State Bank of India|
|State Bank of Indore||State Bank of Mysore||State Bank of Patiala|
|State Bank of Travancore||Syndicate Bank||UCO Bank|
|Union Bank of India||United Bank of India||Vijaya Bank|
A taxpayer needs to choose the correct Challan or Form for making payment of his taxes. The list given below will help you identify the form applicable to you.
|ITNS 280||For depositing Advance Tax, Self-Assessment Tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed income to unit holders.|
|ITNS 281||For depositing TDS/TCS by company or non-company deductee|
|ITNS 282||For depositing Securities transaction tax, Estate duty, Wealth-tax, Gift tax, Interest-tax, Expenditure/other tax and Hotel Receipt tax|
|ITNS 283||For depositing banking cash Transaction Tax and FBT|
|ITNS 285||For depositing Equalization Levy|
|ITNS 286||For depositing Income under Declaration Scheme, 2016|
|ITNS 287||For depositing payments under Pradhan Mantri Garib Kalyan Yojana, 2016|
|Form 26QB||For depositing payment towards TDS on Sale of Property|
|Form 26QC||For depositing payment towards TDS on Rent of Property|
There are various benefits of paying taxes electronically:
When making e-payment of taxes, you must take care of some important things.
When you fill your challan form and submit it to the government through bank, the government (NSDL) receives it and does not modify any data. So, if you made any mistake in providing the required data while making payment, you can make correction through bank only. You can make corrections in the prescribed fields as per the prescribed timelines. Refer to the table given below:
|Sr. No.||Type of correction on challan||Period for correction request (in days)|
|1||PAN/TAN||Within 7 days from challan deposit day|
|2||Assessment year||Within 7 days from challan deposit day|
|3||Total amount||Within 7 days from challan deposit day|
|4||Major head||Within 3 months from challan deposit day|
|5||Minor head||Within 3 months from challan deposit day|
|6||Nature of payment||Within 3 months from challan deposit day|
You can get the incorrect information in your challan corrected by following the given procedure:
The system will auto-populate the challan details if the details you entered are correct.
A confirmation message will appear on your screen after the successful submission of the correction request.
The bank will accept correction request based on the following conditions:
The correction request status will be displayed on the screen.
SIDE NOTE: You can view the corrected fields in the challan correction request you submitted by clicking on “View New Values”.
A. No, you will have to use three separate challans.
A. In case you have to deposit appellate fees, copying charges or other miscellaneous payments, tick box 0020, thereafter tick box ‘400 Regular Tax’ under ‘Type of Payment’ and fill up the amount to be paid in ‘Others’ column under ‘Details of Payment’. In case of non-corporates such as individuals, partnership firms, societies etc. the same procedure is to be followed except that the box 0021 should be ticked at the top of the challan instead of 0020.
A. No, you should deposit separate cheques for each challan.
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