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Even you can deposit your income tax in just 2 minutes (Watch Video)
Even you can deposit your income tax in just 2 minutes (Watch Video)
Paying income tax is your civic duty. However, the word income-tax daunts a common Indian, so taxpayers assume depositing income tax scary. Trust me, it isn't. Watch the live video recording above, You'll see me depositing income tax in just 2 minutes. You'll walk through the simple ten steps for depositing tax in the comprehensive guide below. In fact, as you're reading, you can open up the incometax.gov.in site and deposit your tax hassle free.
This step-by-step tutorial aims to provide you with a clear understanding of the process, ensuring a smooth and hassle-free experience.
## Step 1: Access the Official Income Tax Website
Begin by navigating to the official Income Tax e-filing website. The URL for this is https://www.incometax.gov.in/iec/foportal/ .This website is the official hub for all income tax-related matters, providing a secure environment for taxpayers.
## Step 2: Locate and Select the E-pay Tax Option
Once you're on the website, you need to locate the “E-pay tax” option. This option is typically prominently displayed on the website's homepage for easy access. Clicking on this will lead you to the section dedicated to online tax payment.
## Step 3: Enter Your PAN Details and Mobile Number
The next step involves entering your PAN (Permanent Account Number) details and a mobile number. Note that the mobile number doesn't necessarily have to be the one registered with the Income Tax Department. Choose a number that is readily accessible to you as it will receive an OTP (One-Time Password) for verification purposes.
## Step 4: Verify OTP and Proceed
Upon entering your PAN and mobile number, an OTP will be sent to the provided mobile number. Enter this OTP in the designated field and click on “Continue.” Upon successful verification, the screen will display your name in a masked manner to ensure your privacy and security.
## Step 5: Choose the Income Tax Option
On the following page, you'll see various options. Select the “Income Tax” option to proceed to the section for filing income tax returns.
## Step 6: Select the Relevant Assessment Year
The Assessment Year (AY) corresponds to the year in which the income is assessed. This is typically the year following the Financial Year (FY) for which the income was earned. For instance, for income earned in the FY 2022-23, the corresponding AY would be 2023-24. Select the appropriate AY from the dropdown menu.
## Step 7: Choose Self Assessment Tax as the Type of Payment
Next, you need to specify the type of payment you're making. Choose “Self Assessment Tax (300)” to ensure that your tax payment is correctly categorized.
## Step 8: Enter the Appropriate Tax Amount and Other Details
This step requires you to enter the accurate tax amount, along with any applicable interest, fees, and other relevant details. These details should be based on your tax computation. Ensure that you provide accurate information to avoid any discrepancies or complications later on.
## Step 9: Select Payment Mode and Complete Payment
The Income Tax website provides various secure payment gateways for your convenience. Choose your preferred payment mode and follow the on-screen instructions to complete the payment process.
## Step 10: Download and Save the Challan
Upon successful payment, the website will redirect you back to the Income Tax portal. Here, you'll be prompted to download the challan, which serves as a receipt for your payment. This document contains essential payment details such as the date of payment, challan number, BSR code, and more. It is mandatory to fill in these details when filing your ITR.
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