For those who do not know, Challan 280 is used to pay Non-TDS/TCS Income Tax and Corporation Tax. You can pay your income tax through this Challan and all you should have is an internet connection and net banking facilities with an authorized bank.
How to deposit Challan No 280?
There are two ways through which you can submit Challan no. 280, i.e. through online or depositing at the designated office of income tax.
- The online method includes the following steps to be performed. All you need is an internet connection and a net banking enable bank account. In order to pay through online method, you should fill the Challan 280 and submit it along with the payment necessary as per your applicable taxes.
- For offline method, you simply need to visit bank branch or get in touch with an income tax consultant and they would do the needful for you.
Components of Challan No 280:
Here is a list of information you would have to provide in Challan No 280 while paying your taxes:
- Tax Applicable For: this box would be on the top of the Challan. You need to select ‘Income Tax on Companies’ in case of Corporation Tax or ‘Income Tax’ in case of individual income tax.
- Assessment Year: mention the applicable assessment year
- Permanent Account Number (PAN)
- Full name of the Applicant
- Complete Address of Applicant with City and State along with Telephone number and PIN code
- Type of Payment: This would include the kind of tax you are paying link advance tax, self assessment tax, tax on regular assessment, surtax, etc. Tick the one applicable and mention the amount of respective column
- The details below would ask you to enter the payment details like Cash or Debit card or cheque number.
- Signature of the person making payment should also be done on the page along with the date mentioned
- On the form itself, you would need to get the bank seal on the Challan 280
You should make sure that the form should contain the correct information including your PAN details.
Status Check and Correction in Challan No 280?
After you have paid your Challan 280, you would definitely like to know the status of your return. You can use your CIN reference receipt through Form 26AS or through the TIN Webpage. In this case, you should keep ready with your CIN number.
Last but not the least, there is also a provision to make corrections in case you have made something wrong in the Challan.
You may like to read