E-Tax Payment Made Easy: Authorized Banks and Step-by-Step Guide

Understanding E-Tax Payment: Authorized Banks and Payment Process

As a responsible taxpayer, making e-tax payments online ensures timely and efficient transactions. However, many taxpayers have faced confusion when they cannot find their bank on the Income Tax Portal for facilitating these payments.

This situation arises because the Income Tax Portal lists only selected banks that meet certain eligibility criteria. This list is regularly updated to reflect any changes, including additions and removals.

To clarify which banks are authorized for e-tax payments, the following is an updated list of empaneled banks available until November 2024.

Authorized Banks for E-Tax Payments

1. Axis Bank
2. Bandhan Bank
3. Bank of Baroda
4. Bank of India (Migrated)
5. Bank of Maharashtra (Migrated)
6. Canara Bank (Migrated)
7. Central Bank of India (Migrated)
8. City Union Bank (New)
9. DCB Bank
10. Federal Bank
11. HDFC Bank (Migrated)
12. ICICI Bank (Migrated)
13. IDBI Bank (Migrated)
14. Indian Bank (Migrated)
15. Indian Overseas Bank
16. IndusInd Bank
17. Jammu & Kashmir Bank
18. Karur Vysya Bank
19. Kotak Mahindra Bank
20. Karnataka Bank
21. Punjab National Bank
22. Punjab & Sind Bank
23. RBL Bank
24. State Bank of India
25. South Indian Bank
26. UCO Bank
27. Union Bank
28. Dhanlaxmi Bank
29. IDFC First Bank

How to Pay Income Tax Online: A Step-by-Step Guide

Paying taxes online is straightforward. There are two methods available: paying after logging into the Income Tax e-Filing Portal or paying without logging in. Below is a detailed guide for both options.

Option 1: Pay After Logging into the Income Tax e-Filing Portal

1. Login to the Portal: Visit the Income Tax e-Filing Portal and log in using your PAN and password.
2. Select e-Pay Tax: Navigate to the “e-File” menu and click on the “e-Pay Tax” tab.
3. Initiate Payment: Click “New payment” and proceed under the relevant tax payment option (e.g., Self-Assessment Tax, Advance Tax).
4. Enter Tax Details: Choose the assessment year, payment type, and amount to be paid.
5. Choose Payment Mode: Select “Net Banking” and choose your preferred bank from the list.
6. Verify & Pay: Review all payment details, accept the terms and conditions, and click “Pay Now.”
7. Download Challan: After successful payment, download the challan for your records.

Option 2: Pay Without Logging into the Income Tax e-Filing Portal

1. Visit the e-Pay Tax Page: Go to the e-Filing Portal and click on the “e-Pay Tax” option.
2. Enter Details: Provide your PAN number and mobile number to receive a 6-digit OTP.
3. OTP Verification: Enter the OTP and verify your details, including PAN/TAN and masked name.
4. Select Tax Category: Choose the appropriate tax payment category and fill in the assessment year.
5. Enter Tax Amount: Input the total tax amount and click “Continue.”
6. Choose Payment Mode: Select “Net Banking” and pick your bank from the authorized list.
7. Verify & Pay: Confirm the details on the preview page, click “Pay Now,” accept the terms and conditions, and submit to the bank.
8. Download Challan: After payment, download the challan for your reference.

Checklist for Tax Payment

• Ensure you have your PAN/TAN number ready.
• Have access to your registered mobile number.
• Select the correct assessment year and tax type.
• Cross-check your details before making the payment.
• Keep a copy of the challan for future reference.

By following these simple steps, you can ensure a smooth online income tax payment process. This article serves as a useful reference for taxpayers looking to manage their payments effectively and without hassle.