There is a large section of taxpayers across the country, on whom the government keeps its first eye. If you are also thinking of depositing tax, then first understand some important things. Do you know that if you use the right method of paying tax, you can save money. Generally people pay tax online, which is considered easy.
Never pay income tax through credit card, know its benefits
Tax payment is also done online in many ways. In this you will have to know which is the easy and beneficial method. Although most of the people use credit card to pay tax, but it is the most expensive. However, some people also pay the tax amount through credit card so that it can be paid gradually by converting it into EMI after payment.
This process has a huge impact on your pocket. Most banks issuing credit cards charge a processing fee. According to the website of the Income Tax Department, there are many methods for depositing income tax, which you should know first.
Internet banking becomes effective
Income tax payers can deposit their tax with the help of internet banking. This facility has been given only to those taxpayers who have an account with an authorized bank. The list of authorized banks is also given on the official website of the Income Tax Department. If you make payment, you will see this list of banks.
The most special thing in this is that there is no need to pay additional fees for paying taxes through internet banking, which is proving effective for the people. Apart from this, even if taxpayers have debit cards of authorized banks like Canara Bank, ICICI Bank, Indian Bank, Punjab National Bank and SBI, they can pay income tax. On paying tax through debit card of these banks, no other kind of charge has to be paid.
Never pay income tax through credit card, know its benefits
Tax can also be paid through RTGS and NEFT
You can pay income tax in many ways. You can use any bank to do this work. To use this option, taxpayers will need to create a Challan-Cum-Mandate form. Then after taking the print out, you can go to any bank branch or make online payment, which will not cause any problem. You will not need to pay any charge on online payment. The bank has to charge some amount when you go to the branch. Although it is very less (up to Rs 25).