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Whose name I should draw cheque for paying INCOME TAX?

Others 107888 views 11 replies

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?

 

Replies (11)
Quick Summary
Discussion on how to draw cheque for Income Tax payment. Suggested options include naming RBI, designated bank Income Tax account, or simply "Income Tax Department" or bank name with income tax account. Online payment is preferred over cheque for faster processing.

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.

If you write " income tax account " is sufficient.

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

 

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.

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 "

THANKS TO ALL OF YOU FOR YOUR KIND & WISDOMIC REPLIES

Dear Friends,

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

 

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..

Can we still pay income tax through a cheque?

hello Indira, 

In my opinion income tax can be paid via cheque or cash both.

If you wish to make the payment by a cheque, you have to issue a cheque in favor of 'Income Tax Department.'

You can visit any branch of the selected bank and remit the tax amount over the counter via Cash / Cheque / Demand Draft (along with Challan Form). 


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