Payment of Tax through Axis

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Fatema Rasiwala

Income Tax Filing
Tax Payments
TIN NSDL

The government of India has built an infrastructure to collect taxes online via net banking/ Debit cards from selected banks. Taxpayers after filing their ITR on the Income Tax e-Filing platform will get a challan. The payment has to be done on the basis of that challan through TIN-NSDL. This not only helps in easing the Tax Collection process but also makes it quick and hassle-free. Hence, in this article, we will be explaining the process of Payment of Tax through Axis.

Taxes in India are of two types:

Corporate Tax- It refers to a direct tax imposed on corporate entities. The tax is payable on the income or capital invested in a company. Corporate tax can also be referred to as Company tax.

Income Tax- As the name suggests, its a tax on income earned. As per the Indian Constitution, all income earned by Residents and income received/earned by Non-Residents in India are subjected to Income Tax. Income Tax is paid by individuals and other entities only.

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Income Tax Calculator
Calculate income tax liability for FY 2020-21. Compare tax liability as per New vs Old Tax Regime.
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Steps for Payment of Tax through Axis

  1. Visit the TIN-NSDL portal

    Visit the TIN-NSDL portal and hence, click on Services > e-Payment: Pay Taxes Online option from the dashboard. TIN NSDL services

  2. Select the necessary Challan

    Select the necessary challan as per your tax liability. Thus, click on Proceed.
    TDS/TCS Section– Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) section refers to as:

    1. Any tax collected while making any specified payments such as rent, commission, salary, interest, etc.
    2. Any tax collected by the seller at the time of sale
    If you have paid TDS or collected TCS then you need to look for challans under TDS/TCS Section.
    Non-TDS/TCS Section- Challans that are not regarding TDS or TCS are found under Non- TDS/TCS Section. Moreover, any type of Tax that doesn’t involve TDS or TCS has to be paid by challans mentioned under the Non- TDS/TCS Section.
    Challan 280 of the Income Tax Department- Challan 280 is a much easy way to pay your advance tax, regular assessment tax, self-assessment tax, Surtax, etc. online in a few simple steps.  Tax Payment Option

  3. Enter the required details

    Fill in the following details:

    1. Type of Tax Applicable
    2. Type of Payment
    3. Mode of Payment (Net Banking or Debit Card)
    4. Select name of the Bank from the drop-down (Axis)
    5. PAN Number
    6. Assessment year
    7. Address
    8. e-Mail ID
    9. Phone number
    Enter the captcha code and click on Proceed.challan details

  4. Verify the details

    Your challan has been created. Therefore, verify the details inserted and check the Tick box click on Submit to the bank.Submit Challan to Bank

  5. Login to Axis Bank Portal

    You will be redirected to the Axis Bank portal. Login to your Axis bank account. Finally, verify all the challan details and payable amount. Click on Submit. The amount from your bank account will get deducted and the Tax Payment process is complete.

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FAQs

What is e-Payment of taxes?

The facility that provides a platform for taxpayers to make income tax payments online. The transactions can happen using Net-banking/Debit card mode of some selected Banks.

How can I pay my tax online?

e-Payment of your taxes can be done only through TIN-NSDL Portal only if:
1. You have a bank account with the Net-banking/Debit card of the selected Bank.
2. Your bank provides the e-payment facility.
After the conditions are fulfilled you can follow the above-mentioned steps to pay your Taxes online.

What if my bank doesn’t provide the e-Payment facility?

Well, in that case, you can do the e-Payment of your taxes from the account of any other person who has an account with the authorized bank having the online facility. However, make sure that on challan the mentioned PAN number belongs to you.

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