Income tax Challan
- It is a simple form used to pay tax to the government.
- Tax is deposited in Authorized Banks and not directly with Income tax Department.
- It can be paid
- Direct Online – through Net Banking
- Manually – By Going to Bank Physically
- Prescribed Challan form. is Challan 280.
Note:-While paying challan,it is to be mentioned what type of Income Tax it is
Types of Income tax
- Self-Assessment tax
It is the tax paid at the time of filing Return (i.e. after 31 March)
- Advance tax
It is the tax paid in advance during financial year
(i.e. from 1 April to 31 March)
- Tax on Regular Assessment
It is tax paid when some notice is received by Income tax.Department