This section of the article will provide you information related to Challan ITNS 280. This Challan ITNS 280 is needed to clear any dues of income tax. This article will guide you about who is supposed to pay income tax, when to pay Income tax, how to pay through Challan 280, how to verify tax paid, and how to show it in Income Tax Return.
What is Challan ITNS 280?
This Challan ITNS 280 is used to make payments of Tax on Companies, Corporation Tax and Income Tax (Other than Companies). This form is required to pay advance tax, tax on Regular assessment, self-assessment tax, surtax, tax on distributed profits and tax on distributed income. For Tax on Companies, Corporation Tax and Income Tax (Other than Companies) this challan ITNS280is used.
In case your dues of annual tax are more than Rs 10,000, you need to pay advance income tax.
What details are required to fill Challan Form ITNS 280
The necessary information required to fill this form is the name of the taxpayer, contact no. & address of the payer, Permanent Account No. (PAN), details of BSR code & Transaction Ref. No., detail of Payment of tax such as income tax, surcharge, EC, penalty, etc.
If the cheque is drawn then the name of the bank, the name of branch, branch, seven digits code of branch of the bank, challan no. And the date of a cheque drawn must be provided very carefully.
One has to be very careful while providing these details. If wrong PAN No. is quoted than the penalty of Rs. 10,000/- is charged as per section 272B of I.T. Be sure you are selecting right heads/categories of tax which apply to you.
Where to submit Challan ITNS 280?
One can pay this challan form offline or physically at the selected local branch of the authorized bank which is impaneled with I.T Department. Payment can be made through cash as well as through cheques also.
One can also pay it online by using net banking facilities. For this taxpayer must have the internet banking account at any authorized bank of India. TIN NSDL is the web page for making the payment of tax online.
You must pay your advance tax on or before its due date.
Due dates are 15th of March, 15th of June, 15th of September and 15th of December. If it is delayed even for a single day, you have to pay interest on an entire installment of advance tax for three months until next due date.
On receipt of the amount, receiving bank updates the details in the Challan to Central Government via NSDL through its Online Tax Accounting System [ OLTAS ] return within three working days. To verify the challan online, you can visit TIN webpage.
After the tax payment is made, you are supposed to report this information in your Income Tax Return.
How to download Challan ITNS 280
You can download Challan ITNS 280 in the format of fillable PDF. You can just click on the button provided below to download Challan ITNS 280. Let us know if you have any issues in comments.