{"id":26562,"date":"2021-02-26T12:37:16","date_gmt":"2021-02-26T07:07:16","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=26562"},"modified":"2021-02-26T12:49:53","modified_gmt":"2021-02-26T07:19:53","slug":"methods-to-pay-income-tax-via-challan-280","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/methods-to-pay-income-tax-via-challan-280\/","title":{"rendered":"Online and Offline Methods to Pay Income Tax via Challan 280"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Are you wondering how to pay the income tax? If so, then you have come to the right page. Remember, you can <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>file Income Tax return<\/strong><\/a> only if you have cleared your tax dues. There are two ways through which you can pay your taxes. You can either use net banking or visit the designated bank and fill Challan 280 to pay income tax. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Online Method to Pay Income Tax via Challan 280<\/h2>\n\n\n\n<p><em><strong>The section below will let you file the income tax electronically with the help of challan 280. <\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Instructions to Pay Income Tax Due<\/h3>\n\n\n\n<p>Following are the step by step instructions to pay the tax online. Make sure to follow them carefully without skipping any of the steps. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"854\" height=\"279\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Online-Method-to-Pay-Income-Tax-via-Challan-280.png\" alt=\"Online Method to Pay Income Tax via Challan 280\" class=\"wp-image-26588\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Online-Method-to-Pay-Income-Tax-via-Challan-280.png 854w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Online-Method-to-Pay-Income-Tax-via-Challan-280-300x98.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Online-Method-to-Pay-Income-Tax-via-Challan-280-768x251.png 768w\" sizes=\"(max-width: 854px) 100vw, 854px\" \/><\/figure><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Step 1: Select Challan 280<\/h4>\n\n\n\n<p>Challan 280 allows a taxpayer to pay the regular assessment tax,\nadvance tax, additional charges, self-assessment tax, etc.&nbsp;Head over to\nthe tax information network of the IT department &amp; tap on the Proceed tab\nunder Challan 280 option.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Step 2: Provide Personal Information<\/h4>\n\n\n\n<p><em><strong>For Individuals Paying Tax:-<\/strong><\/em><\/p>\n\n\n\n<ul><li>Select the option \u201c(0021) Income Tax\u201d. Next, opt for the correct payment type from the following option.<ul><li>(100) Advance Tax<\/li><li>(102) Surtax<\/li><li>(106) Tax on Distributed Profit<\/li><li>(107) Tax on Distributed Income<\/li><li>(300) Self Assessment Tax<\/li><li>(400) Tax on Regular Assessment<\/li><\/ul><\/li><\/ul>\n\n\n\n<p>Go ahead and opt for the &#8216;Self-assessment tax&#8217; option if you\nhave taxes due to pay while filing your IT returns.&nbsp;<\/p>\n\n\n\n<ul><li>Choose the\ncorrect mode of payment. You can either choose a debit card or Net banking.&nbsp;<\/li><li>Select\nassessment year.<\/li><li>Provide the\ncomplete address.&nbsp;<\/li><li>Complete Captcha\nverification and tap on the &#8220;Proceed&#8221; option.&nbsp;<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Step 3: Verify the Information<\/h4>\n\n\n\n<p>Make sure to double-check the detail prompted &amp; you will\nhave to furnish the request to the bank. Then the portal will route you to the\nbank&#8217;s payment page.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Step 4: Verify Receipt (Challan 280)<\/h4>\n\n\n\n<p>After making the payment, the portal will generate the tax\nreceipt, which entails the payment details. You can view the BSR code (Basic\nStatistical Return&nbsp;Code) along with challan serial no. on the right\nsection of the challan. Save the tax receipt on your system by taking the\nscreenshot. You will need to provide the BSR code and the challan number to\nenter in your return.<\/p>\n\n\n\n<p>If you forget to download the tax receipt, you can head over to\nyour net banking account and download it from there. SBI bank account holder\nneeds to visit e-tax&gt;reprint challan to view to challan. Meanwhile, the\naccount holder of the ICICI bank ought to follow the given sequence &#8211; Payments\nand Transfers &gt; Tax Center &gt; e-Tax challans.&nbsp;<\/p>\n\n\n\n<p><strong><em>HDFC bank<\/em><\/strong><sup><a href=\"https:\/\/www.hdfcbank.com\/\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> holders need to click on the &#8220;Request&#8221; located on the sidebar. After that, scroll on the same page and select &#8220;Regenerate Direct Tax Challans.&#8221;&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/corpbiz.io\/learning\/reduce-your-income-tax-liability-to-save-money-for-your-future\/\">Reduce your Income Tax Liability to save money for your future <\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Declaration Regarding the Tax Paid&nbsp;(Requirement to be met after paying taxes) <\/h3>\n\n\n\n<p>After you have submitted the appropriate tax amount, you need to\nprovide the same detail in the IT return. Select the &#8220;Self tax\npayment&#8221; option and enter the challan number from challan 280 and the BSR\ncode. BSR code and challan entail 7 and 5 digits, respectively.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3.Implications Regarding the Advance Tax<\/h3>\n\n\n\n<p>If you were required to pay annual tax dues whose amount exceeds Rs 10,000, you must pay income tax in advance. Generally, the individual from the salaried class addresses these income tax payments through <a href=\"https:\/\/corpbiz.io\/tds-return-filing\"><strong>TDS<\/strong><\/a> deductions.<\/p>\n\n\n\n<p><strong><em>Advance tax is paid in the\nfollowing scenarios<\/em><\/strong><\/p>\n\n\n\n<ul><li>You are salaried but have high income from rental, capital gains, or interest.&nbsp;<\/li><li>If you are working as a freelancer.<\/li><li>If you have a business.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Method to Calculate the Advance Tax<\/h4>\n\n\n\n<p>Identify your income from all sources and sum it up. If you are\nworking as a freelancer, estimate annual income from all your clients and\ndeduct the expenses from it. Rent of your workplace, expenses related to mobile\ncarrier, data connection, travel, depreciation on computer.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">How to Verify &amp; Permit Deductions?<\/h4>\n\n\n\n<p>Reduce deduction you wish to claim from your aggregate income\n&amp; arrive at your taxable income. The deduction comes under the regime of\nSection 80C, 80D, 80E, or any other you wish to claim.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Method for Calculation of Tax due on Aggregate\nIncome&nbsp;<\/h4>\n\n\n\n<p>Look out for the latest income tax slab rates on your income,\nwhich is subjected to taxes for calculating the Income-tax due. Deduct the TDS\nthat might have been subtracted from your aggregate tax due. Ensure you have\npaid as per these installments. You can leverage an online platform to make\nthese payments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Self Assessment Tax<\/h3>\n\n\n\n<p>You were not liable to pay IT return to the concerned authority\nunless you have paid tax dues with no leftover. Often, you might see tax\npayments in the event of filing your return. This tax is referred to as Self\nAssessment Tax, which you can submit electronically to ensure successful\ne-filing. If you wish to pay tax after 31 March, then you must pay interest\nunder section 234B and 234C in addition to the tax due.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. <strong>Outstanding Demand Payment<\/strong><\/h3>\n\n\n\n<p>Often, you might have to pay tax to stay in line with an income\ntax demand notice. If you agree with the accessing officer&#8217;s decision and\ndecide to pay the demand, you may so electronically. It is refers to a tax on\nregular assessment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Offline Method to Pay Income tax\nusing Challan 280 <\/h2>\n\n\n\n<ul><li>Visit to your bank and ask for challan 280 or download it from the website of IT department.<\/li><li>Fill all the relevant details accurately and submit the challan. <\/li><li>In response to this, bank will provide a \u201cCounterfoil\u201d with act as a proof of payment. Make sure the counterfoil encloses the following details<ul><li>7-digit BSR code of the bank branch<\/li><li>Date&nbsp; of deposit of challan <\/li><li>Challan serial number <\/li><\/ul><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The law mandates that only two categories of the taxpayer are liable to make online tax payment. These include a) Companies b) Taxpayers are other than companies that are liable to conduct audit under Section 44BB. The remaining taxpayers can pay out their taxes in a conventional way by furnishing the challan at designated banks. However, you can also avail of the electronic payment option as it is simple and save a considerable amount of time.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/corpbiz.io\/learning\/filing-of-form-10ba-of-income-tax\/\">An Overview on Filing of Form 10BA of Income Tax <\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you wondering how to pay the income tax? If so, then you have come to the right page. Remember, you can file Income Tax return only if you have cleared your tax dues. There are two ways through which you can pay your taxes. You can either use net banking or visit the designated [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":26590,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[1565],"acf":{"service_id":"403"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4694,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26562"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=26562"}],"version-history":[{"count":11,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26562\/revisions"}],"predecessor-version":[{"id":26595,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26562\/revisions\/26595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/26590"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=26562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=26562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=26562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}