Tax Tips Guide ! Save Tax ! Help Filing Income Tax Returns

This question has been in minds of many. Income Tax department launched a new rule of applicable from 1st April, 2008 that epayment (online) payment of Income tax is mandatory for the following categories of tax-payers:-

1. All corporate assesses;
2. All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act are applicable.

Now as we know many people in India have never made any online payments (people are scared of giving account and password details online, though it is absolutely secure) so how will they be able to file income tax. For those, you can make epayment of tax from some other bank account. Is making payment from another bank account (of different person) legal ?

Yes, Income tax department issued circular no.5/2008 Dt. 14/7/2008 that a person can pay tax from any one's bank account. (so you can ask any one of your friend with ebanking facility to help you file returns).

1. A person can pay tax from any one's bank account.
2. TDS/TCS are also covered in the word "tax" for online payment.

I hope you find this a useful Tax tip and will help you file your Tax returns.