How to Pay Tax Due? - Here's a Step-by-Step Process

Income tax is one of the major income streams for the government, which is then used in various ways for the development of the country. Therefore, it is important to pay taxes, even if it feels like a burden, both financially and physically. An income tax delay should be avoided at all costs! This is why the government has provided different provisions to ensure seamless tax payment.In fact, the Income Tax Department and the Government of India send out notices and reminders to individuals who are liable to pay taxes. Most of the taxes paid are in advance in order to lessen the burden to pay the large sum together. However, there are times when the advance tax calculated is lesser than the actual tax liability , urging individuals to clear dues.

Step-1: Visit the official website of Income Tax Department of India (TIN NSDL website) Step-2: After login, click on the ‘e-payment’ section’ Step-3: Click ‘Challan 280’ for paying your due income taxes Step-4: Fill the form with all the relevant details including your PAN, name, assessment year, address, name, contact number and email address Step-5: Thereafter, you must select the type of tax depending on the assessment year. Generally, we pay advance tax or tax on regular assessment. In this case where you have already been intimated by the Income Tax department to pay additional taxes, select ‘Tax on Regular Assessment’ Step-6: Select the bank name you wish, to make the payment Step-7: Click the ‘Proceed’ tab to be redirected to the payment portal Step-8: Since different banks have different payment modes available, choose one method as per your preference. Complete the payment by adding relevant details Step-9: After the payment is made, a receipt will be generated which must be kept carefully in the form of a soft copy for later referenceAn individual can choose to pay the tax offline by visiting the bank he/she prefers and pay the due amount, either in the form of a cheque or cash.

1. PAN CARD :Since PAN card is unique for individuals, it is important to enter the right Permanent Account Number.
2. Verification : Before clicking on the Submit button, it is essential to verify all the details entered and ensure no mistakes are made.
3. Calculation :The amount due must be cross-checked before making the payment.
4. Receipt :The receipt you receive by the end of the process is the proof that you have made the payment and hence must be kept carefully.

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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.