I figured that I need to pay tax when I was working towards filing returns. How can I pay this?
Paritosh Sharma, Lucknow
It is good to be early with filing tax returns and paying any tax that you owe. Generally for salaried individuals taxes are deducted at source and hence no taxes are due on the return filing date. However, you may be liable to pay taxes when you have income from sources other than salary e.g. from house property income, income from capital gains, sale of shares, income from other sources etc. In this case you may still have to pay taxes on the income earned from these transactions.
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You can use several online options through a payment gateway for payment of taxes on the Income Tax website of the government. This tax must be paid at the time of filing your return of income on or before 31st July.
1. Select challan 280 to pay taxes which is an option to pay Income Tax or Corporation Tax.
2. Select the Assessment Year for which you are paying taxes and fill in all details like PAN, Address, phone number, email address etc. Here you need to select the option Self-Assessment Tax if you are paying tax due for the FY that has just ended.
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3. Here you will be re-directed to the net banking page where you need to pay tax. There are spaces for surcharge, interest and education cess that need to be kept blank.
4. On payment of tax you should receive your challan 280 that contains details of tax paid by you.
