E- Payment

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Nithya.P (Querist)

24 January 2008
Hi,

Is it compulsory to Corporate tax payers to make all tax payments only throught E-payment mode.

Regards
Nithya

Ashwini Jayaram

Ashwini Jayaram (Expert)

24 January 2008 Yes it is compulsory for corporate assessee to make e-payment wef April 1, 2008. This is confirmed by the CBDT through the press release given below.

No.402/92/2006-MC (05 of 2008)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
***

New Delhi dated the 23rd January 2008

PRESS RELEASE

The optional scheme of electronic payment of taxes for income-tax payers was introduced in 2004. With a view to expand the scope of electronic payment of taxes, it is proposed to make the scheme mandatory for the following categories of tax-payers:-

(i) All corporate assesses;
(ii) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act are applicable.

2. The scheme of mandatory electronic payment of taxes for income-tax payers is proposed to be made applicable from 1st April, 2008.

3. Tax-payers can make electronic payment of taxes through the internet banking facility offered by the authorized banks. They will also be provided with an option to make electronic payment of taxes through internet by way of credit or debit cards.

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