Net Banking

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 As per income tax whether net banking is compulsory?
If compulsory then what is the eligibilty for company,firm &individual?

Rajan Kapoor

Rajan Kapoor (Expert)
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23 April 2011 Net banking is facility provided by banks and not compulsory. Online Income tax payment is compulsory. One can take net banking for one account for income tax payment and may not take net banking for other accounts.

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CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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23 April 2011 The purpose of net banking is to provide facility of seeing account statements and doing banking transactions through internet. Any body who applies to the bank for this facility is eligible as per norms of the particular bank.This facility is not mandatory for any one. One may or may not opt for this facility.

I differ with Mr Ranjan kapoor. Online Income Tax payment is not compulsory for all. It is compulsory only for a certain catagory of tax payers. Others can pay through paper challans as usual or may opt for e payment.

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