LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Paying tax liability

Karthik (Associate) (42 Points)

26 July 2013

Hi, I just finished the e-filing of my Income Tax returns for the FY2012-2013. For the first time, I have a tax liability of about 8.1K to be paid to the Income tax department so I have no idea of how to pay back the liability. Earlier I have only received refunds since the TDS taken from me always surpassed my tax liabilities. So my query is:

1. I have mentioned my bank details in the ITR. so does this mean that the IT dept will take my income tax directly through ECS?

2. Do I have to pay my tax through a bank by physically going to a bank and paying the same?

Also, if I have to pay it by going to a bank do I have to do it before the 31st of this month?

Reply
Follow
Share

4 Replies

Gowtham (Student CA IPC / IPCC) (119 Points)
Replied 26 July 2013

Before filing your returns you should give the Tax payment details in the coloumn Self assessment tax . So u have done a wrong. But no problem u have to pay u the pay the tax and give the details in the ITR again and file the revised return. to avoid demand notice

Mihir (Wealth Manager) (5293 Points)
Replied 26 July 2013

Go to incometax website and click on pay taxes. Select self-assessment tax and pay online using your bank. Take a print out of the challan after the payment. Use the challan details to fill in the ITR. You will need to revise your ITR mentioning the self-assessment tax paid and file your ITR having nil tax liability.