The Hindu Business Line : e-Payment of direct taxes mandatory from next year

Hyderabad, Aug. 4 e-Payment of direct taxes would be mandatory for corporate taxpayers and taxpayers who come under the purview of Section 44AB with effect from January 1, 2008.

For e-payment of taxes, the taxpayers would require a Net banking account with a bank authorised for providing the facility. They should enter all the challan fields themselves and save a print copy of the same. The bank would forward an identical data to the Tax Information Network. The taxpayer would get an e-counter foil containing all the necessary challan fields which should be saved and printed out for record of the payer. The Challan Identification Number available on the counterfoil should be quoted while filing the returns, according to a release.

Currently, State Bank of India, UTI Bank, IDBI Bank, HDFC Bank and Union Bank of India are offering the facility for their customers.

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