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E Tax

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(Querist)
24 September 2010 A partnershipship firm under tax audit deosited the due tax by cheque and not made e payment through net banking, if any consequense/penalty is there?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
24 September 2010 For tax payers, covered under tax audit, e-payment is mandatory.

You may find it difficult to get the credit for the manual tax paid at the time of final assessment.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
24 September 2010
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The following persons shall pay tax electronicallyon or after the 1st day of April, 2008:-

(a) a company; and

(b) a person (other than a company), to whom provisions of section 44AB are applicable.


The FAQs issued by income tax departments do not tell the consequences of not making the payment of tax through the mandatory e-payment mode. So even if you have paid taxes by cheque no penalty will be levied and you will also get proper credit of Taxes paid.
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