Streamline Your Tax Payments With Net Banking

In the digital era, managing taxes has become more convenient than ever. Net banking has revolutionised the way individuals handle their tax payments, offering a streamlined and efficient method to fulfil financial obligations. By utilising net banking services provided by various financial institutions, individuals can seamlessly navigate tax filing, submission, and payments.

This approach enables account holders to process their taxes online, availing themselves of a user-friendly interface to submit returns and settle dues promptly. With secure transactions and easy accessibility, net banking has simplified the tax payment process, making it more convenient and accessible for individuals to meet their fiscal responsibilities.

Types of Taxes You Can Pay

1. Direct Tax Payment: Major banks are integrated into the new ITR e-filing portal for direct tax payments. You can pay the taxes with your bank account or via the payment gateway.
2. GST Payment: If you are a business entity, you can pay GST through the banking portal at zero additional charges. Moreover, you get instant status updates of your transaction and real-time transaction authorisation on the banking app.
3. Customs Duty Payment: The ICEGATE 2.0 portal allows faster payments with 24/7 online payment facilities and instant transaction status updates.

Benefits of Paying Taxes Through Online Portals

Online portals aim to simplify and accelerate tax payments and make them more convenient for customers. You can enjoy the following benefits:

• 24/7 Tax Payment Facility: You can complete income tax filing online and pay your taxes through the platform 24/7, irrespective of working days, working hours, or public holidays.
• Time-saving: By paying your taxes online, you can save time visiting income tax offices and waiting in queues.
• Instant Transaction Updates: After paying your taxes online, you get instant updates about the transaction to ensure successful payment. An instant acknowledgement and challan receipt verifies that.
• Security: The banking portal uses secure payment gateways and advanced security systems to keep your data protected and confidential.
  Multiple Payment Options: You can use your bank’s net banking or mobile banking facilities to pay your taxes online.

Steps to Pay Income Tax

There are three ways of income tax payment. You must choose one that suits you the best.

1. Tax Payment via Bank Payment Gateway

• Visit the ITR e-filing portal at https://eportal.incometax.gov.in/iec/foservices/
• Enter the challan details to create a Challan.
• Proceed to payment and choose your bank’s Payment Gateway there.
• Choose the bank and your preferred mode of payment.
• Enter payment details and make the payment to complete the transaction.
  Download and save the online challan receipt.

2. Tax Payment through Net Banking

• Visit the income tax filing online portal at https://eportal.incometax.gov.in/iec/foservices/.
• Fill in the challan details to create a challan.
• Proceed to payment and choose your preferred bank.
• Make the payment via net banking.
• Download and save the online challan receipt.

3. Tax Payment Offline at Your Bank Branch

• Visit the ITR e-filing portal at https://eportal.incometax.gov.in/iec/foservices/
• Fill in the challan details to create a challan.
• Proceed to payment and choose the ‘Pay at Bank Counter’ option.
• Visit your nearest bank branch.
• After verifying and processing your challan, the branch will provide an acknowledgement receipt.

Steps to Download Challan Receipt from the Income Tax Filing Online Portal

After paying your tax, you must download the online challan receipt to confirm the payment and for future reference. These are the steps to follow:

1. Log in to the income tax filing online portal using your BSR Code, 5-digit challan number, and tender date.
2. Visit the e-file menu and choose E-Pay Tax from the drop-down menu.
3. Go to payments history and search for your respective CIN.
4. Click three dots under the Action menu to download the challan receipt.

Conclusion

With the online income tax filing facility, Online banking portals use technology to give a new-age experience to make tax payments easier for consumers and businesses. Making online tax payment an easier and faster experience, these portals provide efficient customer orientation with seamless integration and technology.