How to Paying Income Tax In India

Paying Income Tax In India By Yourself

When you’re an employee of a business, your employer is required to provide the Form 16.
If you’re a businessperson or are a senior citizen ask your tax professional or finance professional to complete the FORM 16.
Bring the investment proofs, the application form, as well as two passport-sized photographs to the nearby income tax office.
Taxes can be paid at the counters designated by the deadline for submission. The late fee using an additional charge on the deadline.

PayPal Pay online

Enter the URL www.incometaxindia.gov.in by using a browser such as Internet Explorer, Mozilla Firefox, and Google Chrome etc.
Select the Pay Taxes Online to pay tax online from the left-hand menu. A pop-up window will appear and takes you to the outside of the page. Select “OK”..
You will be navigated to a webpage www.onlineservices.tin.nsdl.com. If you are visiting for the first time the error message will be displayed saying This Connection is not trusted. But, dont panic.
Click I understand the risks.
Click to Add an Exception.
On the Add Security In the Add Securitywindow In the Add Security Exception window, click Confirm Security in the Add Security Exceptionwindow, then click Confirm Security. Now you are on the e-payments page.
Select the appropriate challan type.
Fill in the information and click proceed. Be sure to fill in all fields marked * are required. It is important to be aware of the TAN number prior to filling the form.
On the page for payment choose the method of payment. For instance debit card Net Banking.

for Net Banking

Choose the bank you want to use then click the OK button. You will be taken to the Net Banking page is opened.
Enter the Customer ID and password. Enter the Password and click “OK. You will be sent the OTP (One One Time Password) to protect yourself If you have added your mobile number to the bank’s database.
You must enter the OTP and hit “OK”. The payment will take a few minutes to process.The page will be completed and the money is deducted from your account.You will receive an acknowledgement within minutes and an email with the same information will be delivered to your email address.

To Credit Card / Debit Card

Enter the 16-digit card number.
Select the card type Master or Visa.
Input the expiry date of your card in the format of dd/yy.
You must enter into the CVV (CVV is located on bottom of card). Typically, CVVs are 3 digits.
Enter the transaction’s password. If you have forgotten your password then click Forgot Password. An OTP will be sent to the mobile number you registered.
You must enter the OTP and select “OK. The page will refresh and ask you to create the new password. You can then you can enter the same password again.
Select “OK”. Your payment is processed and a receipt will be generated immediately.

Required Documents For Paying Income Tax

These documents must be submitted.

Documents that identify you, such as PAN card or Driver’s License, Aadhar Card
Documents that prove residence, like a Voters card Electricity Bill, Telephone Bill
Documents for Savings and Investments
Passport Size Photographs
Aadhaar Card

Office Locations and Contacts

You can contact the Directorate of Income Tax at webmaster@incometaxindia.gov.in.

For more information, please visit http://www.incometaxindia.gov.in/contactus.asp.

Eligibility

To pay tax on income it is necessary to be at minimum 18 years old and your earnings should be in the tax bracket for income tax.

Fees

The service is provided free of charge if you’re paying the tax on your own. If your tax advisor is paying for the tax, you must pay the charge to them/them/themselves.

Validity

The person should pay the income tax only if they earn money , and only if you are in an income tax bracket. If you are not within the tax bracket during the course of a year, and you don’t make money in an entire year, you will not have to pay tax on income. The information could change at times.

Documents to Utilize

Please visit https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp to choose the respective form.

Examples of Documents

Attach a sample of completed documents that can be helpful to others who want to follow this process.

Processing Time

The application will be reviewed by the authorities responsible for your application in an office centrally located. In general, the entire process can take anywhere from 4 to six months. However, due to the large amount of applications submitted to the tax department it could be a full year. However, you will get notifications regarding your application periodically through your registered email id. You can also check whether your application is in the process on the internet.

Instructions

You can pay tax on income through a variety of resources.
You need to already be registered in order to pay your income tax on the internet.
Manually fill in the forms for application and submit to the registered offices prior to the submission deadline each year.
Additionally, you can pay advance income tax in the month of December each year.
You must consult with an accountant certified by a chartered firm or a finance official for the payment of tax on income.
If you’ve paid excessive income tax, or you have paid less tax, it is recommended to submit your income tax returns each year.
You can file your tax returns on income on the internet.
It is recommended to save your money so that you can reduce your tax burden.

The Information You Need

These details are necessary to fill out the application form.

Full Name
Surname
Middle Name
Father’s Name
Date of Birth
Email ID
PAN Number
Savings Bank Account Number
Address
City
State
Country
Date
Employee/ Business/ Senior Citizen/Consultant

The Document is required

It is the Government of India levies income tax on the taxable income of anyone, which includes employees, businessmen, individuals or self-employed citizens. If you get funds from different sources it is your responsibility to pay taxes on your income to government. India’s Revenue Tax Department is part of the Department of Revenue under the Ministry of Finance, Government of India. According to the Income Tax Act, every assessee is required to pay tax on income according to the rates set in the Financial Act. The rates could or might not be different each year.

Information that could be helpful

Tax Bracket

Tax Bracket is a section where tax rates change in the tax system. The rates are the cutoffs for income that is tax-deductible. For each Financial Year from Apr Mar the income tax slab rates can differ, but they will not. For more information on the taxable income, please see: http://www.incometaxindia.gov.in/Archive/Taxation_Of_Salaried_Employees_18062012.pdf

External Links

Income Tax India Rules and Regulations http://www.incometaxindia.gov.in/home.asp

Tax Information Network https://www.tin-nsdl.com/oltas/oltas-challan.php

More Information about Your Tax Credit http://www.incometaxindia.gov.in/26ASTaxCreditStatement.asp

Other

More information that could aid people.

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