Make Direct Tax Payment

Introduction

Income tax payments can be made through internet banking, by selecting the respective option in the tax payment site, for example, NSDL site in India. After selecting the appropriate challan and filling up the details at the site, user will be directed to transaction authentication screen of the bank. Based on payee ID and type of tax payment system displays the appropriate screen to the user.

• The direct tax payment can be defined as a separate transaction type and limit check and workflow rules can be maintained for this type of transaction. Decimal or negative fields are not allowed in the amount fields.

• The tax payment site should be registered as an unregistered payee by the admin. This is similar to making a shopping mall payment. The user cannot schedule such tax payments.

• Exchange of information from the tax payment site to the bank’s site can be encrypted as per logic agreed upon. The same algorithm can be used by the bank to decrypt and display to the user. The encryption or decryption details are maintained by the admin in the following path.

• • Application Maintenance-> Encryption/Decryption details ->Create new

• After entering the required additional details user can submit the transaction. The user can edit only few fields as indicated below. User cannot schedule tax payments.

• After user submits the transaction, the details are maintained locally in e-banking for user inquiry and admin reports. Challan Identification Number [CIN] is generated using logic defined in system when the transaction is submitted to host system. The success or failure status regarding posting to host system is maintained in e-banking. Logic for challan identification number:

• • ‘BSR Code’ (7digits)/date of deposit (ddmmyy, thatis, 6 digits)/‘Running Number’ (5 digits)example: 029017917050790001

  • BSR Code (7 digits): Branch Code

• Running Number or Challan Serial Number (5 digits). It is a serial number of the electronic challan in that branch on that day.

• These transactions can be sent for RM approval or workflow based approvals. Rejected transactions in ‘Sent for Repair’ status can be modified by the user and re-submitted from the incomplete transactions queue.

• User can download, print or send mail to internet banking id the challan details.

Navigation

• Click Make Direct Tax Payment under Transactions Management.

• The Make Direct Tax Payment screen is displayed.

What you can do

Details of the transaction will be displayed to the user in the screen and based on that user can either approve a transaction or reject a transaction.

Field

Description

TRANSACTION DETAILS

Note:

All fields in this screen, except the Account field, are display fields.

Transaction Date

The transaction date.

Validity Indicator

The default value indicator is Next valid day.

Transaction Currency

The transaction currency.

Account

From the drop-down list, select the valid account for debiting the tax amount.

Unregistered Payee

The default value is the tax payee site registered by administrator.

Amount

The total amount of tax to be paid.

Remark

Any remark from the site can be defaulted to this field.

Challan Number

The challan number indicating nature of tax payment.

Tax Applicable

Indicates the major head for the payment.

Assessment Year

The assessment year for which tax is paid.

Permanent Account Number

The customer’s identification with the tax authority.

Full Name

The assesse’ s name.

Address

The assesse’ s address.

Type of Payment

Indicates type of tax payment.

Income Tax

The amount of income tax to be paid.

Education Cess

The amount of education cess on the tax.

Surcharge

The surcharge on the tax payment.

Interest

The interest on the tax paid.

Penalty

The penalty if any on the tax paid.

Other

Any other component of the tax.