Rule - 125 (of Income Tax Rules, 1962), Income-tax Rules, 1962
Rule - 125 (of Income Tax Rules, 1962), Income-tax Rules, 1962
Electronic payment of tax
(1) The following persons shall pay tax electronically on or after the 1st day of April, 2008:—
(a) a company; and(b) a person (other than a company), to whom the provisions of section 44AB (of Income Tax Act, 1961) are applicable.
(2) For the purposes of this rule :—
(a) "pay tax electronically" shall mean, payment of tax by way of—(i) internet banking facility of the authority bank; or(ii) credit or debit cards;(b) the word "tax" shall have the meaning as assigned to it in clause (43) of section 2 (of Income Tax Act, 1961) and shall include interest and penalty
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