광고 Undoubtedly, payment of taxes may seem like a difficult process. Not only must you calculate the rates for the tax, you will also need to know the application process for the payment. While it may seem complex in the initial process, you can always opt for the online tax payment which is much more convenient. But before you can begin the application process, there are certain requisites you must be aware. Let us take a look at a few options that can assist you  tax ai;

Pre requisites of the online tax payment process:

One of the main process of the pre -requisites of the online tax payment process is the PAN and the TAN accounts. The permanent account number also known as PAN, is a 10 alpha-numeric identifier, which is universal identification to all financial transactions. This also helps in preventing evasions by keeping track of monetary transactions. The TAN account, known as the tax deduction and collection account number is a 10 digit number issued to applicants wherein tax deductions or payments are deposited. Apart from these account, the applicant would also require an internet bank account to begin the application. Additionally, the account must have sufficient funds if there is any deductions occurring.

Type of income tax

When you are opting for the online tax payment, you can select any of the options to make your payment:

Advance tax (100) – this options is for the regular advance payments
Self assessment tax (300) – this option is for those who are making their tax payments after the financial year has ended.
Tax on regular assessment (400) – this options is available when the income tax department raises the rates.
Process for the online tax payment

In addition to the government website, there are various other websites that provide you with the facility of payment online. Given below is a brief overview of the steps you will need to take to fil out your payment form:

Log into the relevant website
Select the relevant challan