There are several ways to deposit self-assessment tax or advance tax to the credit of the government:
- Online Payment: You can make a payment online through the Income Tax Department’s e-filing portal using a credit card, debit card, or net banking.
- Challan 280: You can deposit self-assessment tax or advance tax by filling out a challan 280 and submitting it at a designated bank. You can pay through cash, cheque, or demand draft.
- Electronic Clearing Service (ECS): If you have a bank account, you can authorize the Income Tax Department to automatically debit the amount of tax you owe from your account.
- Direct Debit: You can also authorize the Income Tax Department to directly debit the amount of tax you owe from your bank account.
- Tax Collecting Banks: Tax can also be deposited to the credit of government via Tax Collecting Banks such as SBI, PNB, HDFC, Axis and ICICI etc.
It is important to note that when making a payment, you will need to provide the appropriate assessment year and tax liability details to ensure that your payment is credited to the correct account. Once you have made the payment, you should retain the receipt or acknowledgement as proof of payment.
In summary, there are several ways to deposit self-assessment tax or advance tax to the credit of the government including online payment, challan 280, ECS, Direct Debit, and Tax Collecting Banks. It’s also important to retain the receipt or acknowledgement as proof of payment and to ensure that your payment is credited to the correct account