Whose name I should draw cheque for paying INCOME TAX?

Audit Assist



To whom should cheque be drawn for paying Income tax? I am having Rs 10000 tax liability for AY 2008-2009. In whose name should I draw cheque?

 

 
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Article Assitant & CA Final Student


If the TAX is being Deposited in RBI then draw it on its name for example Reserve Bank of India, Kanpur.

If the you are Depositing the Tax in the Branch in which you have your Bank account and which does TAX collection then just mention YOURSELF. 

However, I personally feel these days the best option is to make the payment online and get the challan at once than by making payment through cheque and waiting for three days.

Regards,

Shefali.

 
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Senior Executive- Finance


If you write " income tax account " is sufficient.

 
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CA FINAL



you should write e.g. state bank income tax account or icici bank income tax account etc.

 

 
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You should invariably remit your IT through Challan in any bank.  If you are deposing the IT in the bank where you are having your account, then you have to issue cheque in favour of your bank branch iteself.  do not forget to mention your PAN No. on the challan ward/circle and TDS authority code. otherwise your Remittance will not be properly recognised at the time of assessment by your assessing authority.

 
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Just write down the name of the bank and income tax on cheque and deposit into bank WITH RESPECTIVE CHALAN

for example if you want to deposit it into Punjab Nationa Bnak then cheque will be in favour of " PNB A/C INCOME TAX "

 
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Audit Assist



THANKS TO ALL OF YOU FOR YOUR KIND & WISDOMIC REPLIES

 
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Student CA IPC / IPCC



Dear Friends,

for payment of advance tax through offline, can we draw cheque on HDFC CBDT(if bank is hdfc)?

 


Total likes : 1 times

 
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Accounts Manager



Its sufficient that u can mention A/c Income Tax

Or u can mention bank name also

i.e.

SBI A/c Income Tax

Or

PNB A/c Income Tax

Or many more banks in which Income Tax holds A/c's of them..

 
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