Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: form 3cd :: TDS :: empanelment :: VAT Audit :: cpt :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Direct Tax »
 CBDT signifies achievements towards eliminating domestic black money
 Seafarers get tax exemption from Ministry of Finance
 Financial institutions need to get accounts self-certified for FATCA by April 30
 Direct tax incentives to promote start-ups
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
 Central Board of Direct Taxes clarifies on cash curb, Aadhaar
 CBDT to issue PAN, TAN within a day to improve Ease of Doing Business
 Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT
 CBDT accomplishes direct taxes collection target for FY 2016-17
  No relief to those who defaulted on 1st IDS installment: CBDT
 New Income Tax forms: What information is being asked for? All you want to know about the new rules

Tax payers can pay income tax through any bank account
July, 24th 2008

Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes (CBDT) said.
The decision has been taken following representation from certain domestic and foreign taxpayers, who said they were facing difficulties in complying with the mandatory e-payment of taxes.

Earlier, the CBDT had made it mandatory for companies, and businesses and professionals covered under audited results, to electronically pay taxes with effect from April this year.

"An assessee can make electronic payment of taxes also from the account of any other person. However, the challan for making such payment must clearly indicate the Permanent Account Number (PAN) of the assessee on whose behalf the payment is made," said a CBDT notification.

Tax authorities said that it was not necessary for taxpayers to pay taxes from their own accounts in an authorised bank. Further, payment of any amount by a deductor by way of tax deducted at source (TDS) or tax collected at source (TCS) would also be accepted.

Foreign assesses said since they do not have a presence in India, they were unable to meet the know-your-customer norms of the banks and thus open bank accounts and make payment of taxes, through the electronic mode.

The tax authorities said tax payers could pay taxes electronically through internet banking facility of authorised bank, credit cards or debit cards as well.

The sources said the department has also received complaints from number of domestic companies that they were were facing difficulties in availing internet banking facilities of the authorised banks. PTI

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions