Online Tax Filing

I recently stumbled upon the website of NSDL (National Securities Depositary Ltd) and got surprised to see the e-payment of taxes.

So clicked the link and found that anyone can pay the taxes online if they have netbanking facility with the mentioned banks.

If you are a salaried employee and have any outstanding tax to be payed, then instead of visiting a nearby bank branch you can directly submit the tax on-line using netbanking.

Dont confuse this tax-filing with return-filing (usually this is a common confusion). This facility is just to submit any extra tax (after TDS) that you are entitled to pay the government. This situation usually occurs (for salaried employee) if he has shifted job within a financial year and has not accounted for previous employer income to the finance department. So when you file the tax return you just need to provide a Challan Identification Number (CIN) obtained while paying the tax online. Pretty neat !!

It is definitely a welcome move from the income tax department.

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