Friday, February 15, 2008

E-PAYMENT IS NOW MANDATORY

The optional scheme of electronic payment of taxes for income-tax payers was introduced in 2004. With a view to expand the scope of electronic payment of taxes, it is proposed to make the scheme mandatory w.e.f. 1st April, 2008 for the following categories of taxpayers:-

  • All corporate assesses;
  • All assesses (other than company) to whom provisions of section 44 AB of the Income Tax Act, 1961 are applicable:
Tax-payers can make electronic payment of taxes through the internet banking facility offered by the authorized banks with an option to make electronic payment of taxes through internet by way of credit or debit cards

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