Friday, January 24, 2014

What Option To Select While Paying TDS Through Bank's NetBanking Website

What Option To Select While Paying TDS Through ICICI Bank's NetBanking Website:

After filling and submitting form 26QB on NSDL's website (https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp), I was taken to ICICI's website where I was again given boxes to fill the payment with following categories:

  - Income Tax  
  - Surcharge  
  - Education Cess  
  - Interest  
  - Penalty  
  - Others

It's confusing but you will need to pay TDS as "Income Tax" as TDS is a type of Income Tax as told by my Chartered Accountant in Delhi, India.  

Once payment was made on Bank's site, a "Direct Tax Payment Challan Report" was generated by ICICI Bank which had listed CHALLAN NO. / ITNS 280 on the top left corner of the report. I got confused with this challan no. / itns 280 and wondered if I made the payment right. My father in-law then consulted with an inspector at IT department who said it was all good. The report mentioned Type of Payment as (800) TDS on Sale of Property which is category of income tax.

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