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- What should be kept in mind while making payment of tax ? What should be kept in mind while making payment of tax ?, (2 of 2)
What should be kept in mind while making payment of tax ?
Subject
FAQ on Advance Tax
etds-answer
While making payment of tax, apart from other things, one should clearly mention following details :
- Head of payment, i.e., Corporation Tax/Income-tax (other than companies)
- Amount and mode of payment of tax
- Type of payment [i.e., Advance tax/Self-assessment tax/Tax on regular assessment/Tax on Dividend/Tax on distributed Income to Unit holders/Surtax]
- Assessment year – this is a general error that assessees commit as AY is different from Financial year
- The unique identification number called as PAN [Permanent Account Number] allotted by the IT Department.
- The details are displayed on screen and should be confirmed before proceeding with payments.
