Para 15.4.2 — CAM
Original Rule Text
15.4.2 Tax Payment Modes:
I. Payment through Internet Banking of Authorized Banks
II. Over the Counter Payment through all branches of Authorised Banks III. Payment through NEFT/RTGS through any bank IV. Payment through any bank using the Payment Gateways (PGs) of the Authorized Banks V. Any other mode as prescribed by Government of India from time to time
What This Means
Direct tax payments can be made through five modes: (1) Internet banking of authorized banks, (2) Over-the-counter (OTC) payment at any branch of an authorized bank, (3) NEFT/RTGS transfer through any bank, (4) Payment gateways of authorized banks (covering debit/credit cards, UPI, BHIM, etc.), and (5) any other mode prescribed by the Government from time to time. This flexibility ensures taxpayers can pay using whichever channel is most convenient for them.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Five payment modes are available for direct taxes under TIN 2.0
- 2Internet banking is limited to authorized banks only
- 3OTC payments can be made at all branches of authorized banks — not just designated branches
- 4NEFT/RTGS can be done through any bank (not just authorized banks) with RBI as the recipient
- 5Payment gateway mode enables card, UPI, and BHIM payments through authorized bank PGs
Practical Example
A freelance professional needs to pay advance income tax of Rs 1.5 lakh. She generates a challan on the TIN 2.0 portal and sees five options. Since her salary account is with a non-authorized bank, she chooses NEFT/RTGS mode, which allows payment from any bank. She transfers the amount to RBI via NEFT using the CRN as the beneficiary account number, and receives a CIN once RBI confirms receipt.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Can I pay direct taxes from a bank that is not an authorized bank?▼
What is the difference between OTC and Internet Banking modes?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.