HOW TO PAY ADVANCE ?
HOW TO PAY ADVANCE ?
Contents •
Introduction
5
•
Step 1
- Visit https://www.incometax.gov.in/iec/foportal
6
•
Step 2
- Scroll down to ‘Our Services’ section to select ‘e-pay Tax’
6
•
Step 3
- You will be asked to re-direct to new site. Click on Continue
7
•
Step 4
- Select Challan No./ ITNS 280 on the redirected page.
7
•
Step 5
- Fill the details in Challan No./ITNS 280
8
•
Step 6
- Click on ‘Proceed’ button
8
•
Step 7
- Check the information filled and tick the ‘I agree’ check
9
•
Step 8
- You will be redirected to the bank’s site for payment.
9
•
Step 9
- Fill the details of payment, click on ‘Calculate Total
•
Step 10 - Enter the remarks and Submit
•
Step 11 - Download the challan copy for future records
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How to pay Advance Tax?
Introduction Every assessee is liable to pay advance tax if his estimated tax liability of the financial year is Rs. 10,000 or more. The advance tax is payable in respect of the ‘current income’ which is chargeable to tax in the assessment year immediately following the relevant financial year. Every income is subject to advance tax even if such income is subject to deduction of tax at source or subject to any special rate of tax. The advance-tax shall be computed in the following manner: PARTICULARS
AMOUNT
Tax on income at normal rates
xxx
Tax on income at special rates
xxx
Tax on total Income
xxx
Less: Rebate under Section 87A
(xxx)
Tax after rebate
xxx
Add: Surcharge
xxx
Tax after surcharge
xxx
Add: Health and Education Cess
xxx
Gross tax liability
xxx
Less: (a) MAT Credit or AMT Credit
(xxx)
(b) Tax relief under Section 89
(xxx)
(c) Foreign tax credit under Section 90, 90A or 91
(xxx)
Net tax liability
xxx
Less: Prepaid taxes (a) TDS deducted
(xxx)
(b) TCS collected
(xxx)
Total advance tax liability
Xxx
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How to pay Advance Tax?
Steps to pay Advance Tax Step
1
Step
2
Visit https://www.incometax.gov.in/iec/foportal
Scroll down to ‘Our Services’ section to select ‘e-pay Tax’ section.
6
How to pay Advance Tax?
Step
3
Step
4
You will be asked to re-direct to new site. Click on Continue
Select Challan No./ ITNS 280 on the redirected page.
7
How to pay Advance Tax?
Step
5
Step
6
Fill the details in Challan No./ITNS 280
Click on ‘Proceed’ button Select Challan No./ ITNS 280 on the redirected page.
8
How to pay Advance Tax?
Step
7
Step
8
Check the information filled and tick the ‘I agree’ check box before submission to bank.
You will be redirected to the bank’s site for payment. Login with your credentials
9
How to pay Advance Tax?
Step
9
Step
10
Fill the details of payment, click on ‘Calculate Total Amount’ and click ‘Continue’.
Enter the remarks and Submit
10
How to pay Advance Tax?
Step
11
Download the challan copy for future records
11
How to pay Advance Tax?
12
How to pay Advance Tax?
Our Associations INCOME TAX DEPARTMENT
INDIAN INSTITUTE OF BANKING & FINANCE
INCOME-TAX APPELLATE TRIBUNAL
NATIONAL INSTITUTE OF SECURITIES MARKETS An Education Initiative of SEBI
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How to pay Advance Tax?
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u
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How to pay Advance Tax?
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How to pay Advance Tax?
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