April 17, 2024

Final yr, the earnings tax division applied a Tax Data Community (TIN 2.0) to enhance the taxpayer expertise on the e-filing platform. With impact from April 1, 2023, the entire tax fee has been moved from the earlier TIN-NSDL to TIN 2.0.  

“The brand new e-Pay tax fee platform TIN 2.0 is an official earnings tax division portal to supply taxpayers with a single window entry to earnings tax-related providers, together with tax funds.” “A fee system of this kind is now accessible on the e-filing portal, changing the OLTAS-based fee system,” said Suresh Surana, Founding father of RSM India.

There are actually 26 banks on board, together with each state-owned and business banks. “Taxpayers of these particular banks will now have to go to the earnings tax division’s e-filing portal to pay their direct taxes,” Prabhakar Okay S, Founder & CEO of Shree Tax Chambers, said.

How And The place To Entry It?

The taxpayer should use the Earnings Tax Portal at https://www.incometax.gov.in/iec/foportal/. Individuals can find a pre-login part ‘e-Pay Tax’ on the left aspect https://eportal.incometax.gov.in/iec/foservices/#/e-pay-tax-prelogin/user-details, which they will entry utilizing their PAN / TAN and one-time password acquired over the telephone. A taxpayer may also go to his financial institution’s web site and use the Tax Fee/Assortment of Direct Tax capabilities.  

“The brand new fee system is used to make tax funds,” Surana defined. It’s based mostly on the earnings tax e-portal, which is utilized by taxpayers to file returns.”

What Sorts Of Direct Taxes Can Be Remitted?

A taxpayer can at present remit a variety of direct taxes, together with Advance Tax, TDS/TCS, Self-Evaluation Tax, Earnings Tax on Corporations, Earnings Tax on People, Wealth Tax, Reward Tax, Banking Money Transaction Tax, Fringe Profit Tax, Surcharge Tax, Tax on Distributed Earnings/Earnings, Secondary Adjustment Tax, Accretion Tax, Tax on Common Evaluation, and Commodities Transaction Tax / Securities Transaction Tax.  

In keeping with Prabhakar Okay S, the taxpayer can obtain the tax-paid receipts for his information instantly or after logging onto the e-filing website later, and he may even obtain a replica from the tax division straight to his registered e-mail ID.

“Those that want to remit dues over-the-counter could generate a challan; nevertheless, it should be remitted inside fifteen days of its era.” “If the case lapses, he should restart your complete course of,” he defined.

The Following Are Some Of The Traits Of This New Fee Platform:

Web Banking, NEFT/RTGS, OTC, Debit Playing cards, fee gateway, and UPI are among the many user-friendly fee strategies accessible on the brand new platform. “The brand new facility comes with a number of benefits in comparison with the erstwhile OLTAS and supplies user-friendly choices for e-payment of taxes together with Web Banking, Debit Card, Over the Counter, NEFT/RTGS and Fee Gateway choices,” said Prabhakar S. Prabhakar.

In distinction to TIN 1.0, the place there was no Challan expiry for transactions begun by means of the TIN website, the Direct Tax Challan will expire 15 days earlier than the transaction should be accomplished in TIN 2.0. If the fee just isn’t accomplished inside 15 days, the created Challan will expire, and the shopper must begin over.

Solely as soon as the challan has been generated will or not it’s accessible on the TIN website. Taxpayers now have a bigger collection of banks from which to pay their taxes. Moreover, chances are you’ll obtain credit score or a refund on the identical day.


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