- Date : 13/12/2022
- Read: 4 mins
You can now pay income tax online through the e-filing income tax portal.
You might have to check if your bank has changed its income tax payment facility. You can now pay income tax online through the e-filing income tax portal. Customers will have to visit the e-filing income tax portal to pay income tax in cases of certain banks. These banks have migrated from the TIN NSDL website onto the new website. The Central Board of Direct Taxes has issued new directions for several banks to switch from TIN NSDL's OLTAS e-Payment of Taxes to CPC 2.0 - TIN 2.0 (A new Direct Tax Payment System).
The new e-filing income tax portal will collect direct Tax over the counter and through internet banking. This is a positive step in the right direction, as users can get facilities under one umbrella on a single portal. Now, users will not have to jump between various platforms to pay income tax online. Individuals using certain banks are now advised to move to e-Pay Tax's new portal for making direct tax payments.
Read: All you need to know about the new income tax portal
The following is a list of banks not available on the NSDL website for income tax payments anymore. These banks have migrated or moved to the new income tax portal.
List Of Banks
- Punjab National Bank
- Kotak Mahindra Bank
- Federal Bank
- Bank of India
- Canara Bank
- Indian Overseas Bank
- Bank of Maharashtra
- Indian Bank
- ICICI Bank
- Karur Vysya Bank
- Central Bank of India
- Axis Bank
You might have received intimation about this change if you use one of these banks. For instance, ICICI Bank sent its customers a text message informing them of the change.
What are the advantages for the taxpayer?
The new portal possesses many advantages over the old NSDL portal. One huge advantage is that e-Pay Tax will have many payment options like pay-at-bank counters, payment gateways (credit cards, UPI), RTGS/NEFT, net banking, and debit cards. The NSDL portal only allowed payments through debit cards and net banking.
What are the disadvantages for the taxpayer?
There are some disadvantages as well. One is that you will have to pay transaction charges if you want to pay through the payment gateway using RTGS/NEFT. If you decide to pay through the Federal Bank payment gateway, you will have to pay an extra 0.85% if you pay through a credit card. If you pay through net banking through the Federal Bank payment gateway, you will have to pay Rs. 5-12 as transaction charges. NSDL did not ask for these transaction charges.
The TIN NSDL website only allows tax payment through selected banks currently. The new e-filing portal will redirect you to the NSDL website if your bank still needs to move.
Read: Income tax in India
These banks use the TIN NSDL website for net banking payments:
- Union Bank of India
- UCO Bank
- State Bank of India
- Punjab and Sind Bank
- Jammu & Kashmir Bank
- IDBI Bank
- Bank of Maharashtra
- Bank of Baroda
These banks can pay taxes through debit cards on the TIN NSDL website:
- State Bank of India
- HDFC Bank
- Bank of Baroda
The change has advantages and disadvantages but is welcome. It will make people's lives easier, and the payment of direct taxes will become much less cumbersome and tiring. Check with your bank if they have moved to the new portal.
How to register on new income tax portal for income tax return, New income tax portal registration
You might have to check if your bank has changed its income tax payment facility. You can now pay income tax online through the e-filing income tax portal. Customers will have to visit the e-filing income tax portal to pay income tax in cases of certain banks. These banks have migrated from the TIN NSDL website onto the new website. The Central Board of Direct Taxes has issued new directions for several banks to switch from TIN NSDL's OLTAS e-Payment of Taxes to CPC 2.0 - TIN 2.0 (A new Direct Tax Payment System).
The new e-filing income tax portal will collect direct Tax over the counter and through internet banking. This is a positive step in the right direction, as users can get facilities under one umbrella on a single portal. Now, users will not have to jump between various platforms to pay income tax online. Individuals using certain banks are now advised to move to e-Pay Tax's new portal for making direct tax payments.
Read: All you need to know about the new income tax portal
The following is a list of banks not available on the NSDL website for income tax payments anymore. These banks have migrated or moved to the new income tax portal.
List Of Banks
- Punjab National Bank
- Kotak Mahindra Bank
- Federal Bank
- Bank of India
- Canara Bank
- Indian Overseas Bank
- Bank of Maharashtra
- Indian Bank
- ICICI Bank
- Karur Vysya Bank
- Central Bank of India
- Axis Bank
You might have received intimation about this change if you use one of these banks. For instance, ICICI Bank sent its customers a text message informing them of the change.
What are the advantages for the taxpayer?
The new portal possesses many advantages over the old NSDL portal. One huge advantage is that e-Pay Tax will have many payment options like pay-at-bank counters, payment gateways (credit cards, UPI), RTGS/NEFT, net banking, and debit cards. The NSDL portal only allowed payments through debit cards and net banking.
What are the disadvantages for the taxpayer?
There are some disadvantages as well. One is that you will have to pay transaction charges if you want to pay through the payment gateway using RTGS/NEFT. If you decide to pay through the Federal Bank payment gateway, you will have to pay an extra 0.85% if you pay through a credit card. If you pay through net banking through the Federal Bank payment gateway, you will have to pay Rs. 5-12 as transaction charges. NSDL did not ask for these transaction charges.
The TIN NSDL website only allows tax payment through selected banks currently. The new e-filing portal will redirect you to the NSDL website if your bank still needs to move.
Read: Income tax in India
These banks use the TIN NSDL website for net banking payments:
- Union Bank of India
- UCO Bank
- State Bank of India
- Punjab and Sind Bank
- Jammu & Kashmir Bank
- IDBI Bank
- Bank of Maharashtra
- Bank of Baroda
These banks can pay taxes through debit cards on the TIN NSDL website:
- State Bank of India
- HDFC Bank
- Bank of Baroda
The change has advantages and disadvantages but is welcome. It will make people's lives easier, and the payment of direct taxes will become much less cumbersome and tiring. Check with your bank if they have moved to the new portal.
