| Originally posted by :RAKESH JAIN |
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I asked similar question earlier but did not receive a detail answer. So, I am trying once again.
I wish to pay advance tax before 15 Sep. I know roughly the income I am expecting in FY 2009-2010.
For e-filing advance tax:
1. I think that challan 281 must be filled online.
2. ITR-V is not involved with advance tax payments.
3. No details regarding income, exemptions etc are needed for payment
of advance tax.
4. No other steps are needed except filling challan 281 & making payment
through Internet Banking from the bank account.
Kindly correct me if I am wrong & suggest me if any other steps needed.
Thankijg you all, RAKESH
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I will try to answer all ur queries in sequence as u mentioned . But please take care in future to provide detailed info to get the detailed answer as the info u provided is incomplete , like ur status - Individual/firm/company etc.
1 . Wrong , Challan 281 is fr payment of TDS . For payment of Advance tx , use Challan 280 & choose the option (100) for Advance tax in form. Here is link for u to download the same :
https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/challanITNS-280.pdf
2. ITR-V is form of Retun which is to be filled by the Firms for their Income of the year . For advance tax payment, there is no relation of IR-V.
3. For payment of Adv tax , just fill the form I mentioned above & deposite in Bank , or pay by Online Bank transfer , as u like , there is no enclosure required . However , for ur own convinience & future reference that how u arrived at this amount , keep a copy of calculation with urself.
4. Challan 280 , not 281 . also , u focused only on online transfer. It is mandatory only for those who are covered under Tax Audits or Corporates . Otherwise , u can deposit in bank by cash or cheque also. No other steps are required except for filling & depositing challan 281 with tax amount.
Other points for ur reference :
1. U have to pay advance tax only if the total liability for the year 2009-10 is above Rs. 10000 , otherwise not .
2. As You haven't mentioned ur status , I am unable to comment on the percentage of Tax u need to deposit as Advance tax by 15th Septemeber. If u are non-corporate assesee - 30% , if corporate assesee - 45%.
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