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Online Income Tax Payment with Challan 280

Highlights

  • Go through the process of making Income Tax payments online.
  • Check the details that you have to fill in Challan 280.
  • Explore the situations where an Advance Tax is payable.

Taxes are the main source of earnings for the government and it is the duty of every individual to pay taxes on their income. The taxes are used by the government to enhance various sectors like Health, Education, Defense, Infrastructure, etc. Therefore every individual should pay taxes for the growth of our country. Taxes are collected through TDS, Advance Tax Payments, and Self-Assessment Taxes. So, if you want to pay assessment tax or advance tax then you can make an online income tax payment with Challan 280. Freelancers, Sole Proprietorship Businesses, and other earners who want to pay income tax online on their own can make use of Challan 280. So, let’s see the online process of paying advance taxes and self-assessment raxes.

Process of Paying Income Tax Online

Here you can follow the steps given below to make the advance tax payment on your own. If you have any income other than salary then you should pay Advance Tax on it.

  • Go to the Tax Information Network of Income Tax Department https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
  • Now you can see NON-TDS/TCS head under which you will see CHALLAN NO./ITNS 280 option.
  • Click on the Proceed Button under the CHALLAN NO./ITNS 280 option.
  • Now Fill-up the challan form.
    • If an individual is paying the tax then he must select the (0021) Income Tax (Other than Companies) option.
    • Select the type of payment correctly from the options available: (100) Advance Tax, (102) Surtax, (106) Tax on Distributed Profit, (107) Tax on Distributed Income, (300) Self Assessment Tax, (400) Tax on Regular Assessment.
    • Choose the option (300) Self Assessment Tax if you have any outstanding income tax to be paid.
    • Choose the mode of payment whether you want to pay through a Debit Card or Net Banking.
    • Select the Assessment Year for which you are paying the taxes and enter your Permanent Account Number.
    • Provide your complete address, email ID, and Mobile Number.
    • Enter the Captcha as shown in the box and then click on the Proceed Button.
  • Now a filled Challan 280 will appear in front of you where you can check all the information you have entered and you can also rectify details if it’s wrongly entered.
  • Double-Check all the details and then give the consent to the NSDL e-Gov by checking the I Agree box.
  • Then click on the Submit to the Bank button and then you will be redirected to the bank’s payment page.
  • After completing the payment, you will Receipt named Taxpayer’s Counterfoil.
  • In the receipt, you can see the BSR Code and Challan number on the right side of the page.

Note*- Keep a copy of the Challan receipt because you can use it at the time of filing an ITR.

The above steps will definitely help you to make an online income tax payment with Challan 280.

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Advance Tax

If in case your annual tax dues exceed ₹10000 then you are liable to pay advance tax. Salaried individuals manage their taxes through TDS but individuals like businessmen and freelancers have to pay advance tax on their income.

Types of Income where Advance Tax is Payable

  • Income from Interest
  • Capital Gains 
  • Rental Income
  • Income from House Property
  • Income from Horse Races

If you are a freelancer then you must calculate your annual income from clients and projects. Then you must deduct expenses like rent of workplace, internet bills, travelling bills, depreciation on assets, and other expenses from the gross income to know your accurate total income.

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