Cbdt e payment
The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Provide proper link of e-payment. Select the relevant challan i. On submission of data entered, a confirmation screen will be displayed. On confirmation of the data so entered, the taxpayer will be directed to the net-banking site of the bank. On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made.
CBDT e-Payments
With an intent to encourage electronic payments, section SU was inserted by the Finance No. In case a person fails to provide such facilities, a penalty of INR 5, per day of default could be levied. As per this Rule, payments made by following mode are now being prescribed for the purpose of section SU of the IT Act:.
This circular clarifies that the above-mentioned electronic modes of payment are in addition to the facility for other electronic modes of payment, if any, already being provided by specified persons.
Further, in order to allow enough time to specified persons to get the prescribed electronic mode of payment system operationalised, it is clarified that no penalty will be levied if such a system is installed and operationalised on or before 31 January While the section is introduced, the prescribed mode of payment has now been notified by the CBDT.
Now that the electronic modes of payments have been prescribed, the specified person will need to ensure that the prescribed mode of payment is in place. Taking into consideration that setting up and operationalisation of the electronic mode would entail time, CBDT has granted a grace period of 30 days. This is a welcome move by the Government as this will give time for the taxpayers to transition to the electronic payment system without attracting the penalty of INR 5, per day.
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To pay e-Tax, select the relevant challan i.e. ITNS , ITNS , ITNS or ITNS , ITNS , ITNS , ITNS , Form 26QC, Form 26QB, Form 26QD. CBDT- e-payments. Punjab National Bank renders its customers the facility to make CBDT payments Online. This can be availed by customer of any Centralised.
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With an intent to encourage electronic payments, section SU was inserted by the Finance No. In case a person fails to provide such facilities, a penalty of INR 5, per day of default could be levied. As per this Rule, payments made by following mode are now being prescribed for the purpose of section SU of the IT Act:.
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Government has asked businesses with turnover exceeding Rs 50 crore to mandatorily provide electronic modes of payment from November 1. The provision prohibits banks and payment system providers from imposing any charge on transactions through electronic modes of payments specified in Section SU of the Income-tax Act. The Centre has invited applications from banks and system providers to include their payment systems under the list of prescribed modes of digital transaction under Section SU. In her Budget speech earlier this year, Finance Minister Nirmala Sitharaman had proposed to add a section to the Income-tax Act directing business with an annual turnover over Rs 50 crore to provide low-cost electronic modes of payments. For ensuring compliance, a suitable penalty provision is also proposed to be inserted in the Act, the Finance Minister had said.
