Challan 280 | Income Tax Challan 280 | Check when you use 280 forms for different types of Tax. In this article, you will find where you can discover Challan 280 and the exact use of Challan 280. Also, check the number for advance tax is 280 or other, and modes of payment for advance tax in said form.
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Challan 280
Challan 280 is a basic Income tax-related form used for Income tax payment of different types. Every year people across India have to file their Income tax. Sometimes you also have to make Income tax payments in various forms, such as Advance Tax payable on occasions.
While it may be used for self-assessment tax and the tax for regular assessments, distributed profits over a land property or rents.
The government of India has now made the online TIN NSDL website a blessing for taxpayers. With the help of Challan 280 or ITNS 280, you can now pay your pending taxes or dues for current or previous years as well.
In this way, the government ensured that the offline payment via Challan 280 form is not just the only method. Users can now seek the online TIN NSDL website to pay for the tax dues. It is an instant with different payment options available as well.
Suppose you have not paid your previous year or current year due to taxes liable for filing for the current year’s income tax returns. Even after the filing of ITR, you will not receive any returns because you have not entirely paid your pending taxes.
To help people solve this issue of pending taxes where someone forgets to pay for the home, rent, land, water, or electricity tax, we use Challan 280.
Please note that this challan can also use by commercial brands and companies who have yet to pay their taxes. Upon paying of which even they can easily file for Income tax returns either online or offline.
Why Pay Income Tax Dues using Challan 280
One of the essential things to understand is that you can only allow filing Income Tax returns at the end of the year in December if you have paid all your tax dues.
Every citizen of India who owns a property, land, vehicle, or ownership has a payable tax to the government. If those taxes are paid in full, one will allow applying for Income Tax returns via eFiling.
But there are some cases where people do not want to pay for their Income tax dues, such as taxes liable on their Home tax, Vehicle Tax, Land tax, and property tax which they should make sure to clear beforehand or else they will not allow for efiling stage for ITR returns.
Few of the minor government taxes that everyone has to pay but forget also include the Water Tax, Electricity tax, and the profit. Using Challan 280, you will rectify all the Income Tax dues on your current and previous years.
Once those are done, you can make an online payment for all liable taxes that you should make the payment. Since we are talking about online Challan 280, you will have to make the payment once you submit the details. This may be done via different payment options that include Internet Banking, Credit Card, and Debit cards.
Challan 280 & ITNS 280 Tax Payment Types
It is not only for individuals but also for companies who run commercial businesses across India. The individuals like you and me, along with big companies, have pending taxes, which they have to make sure close before the year-end self-assessment through the Income-tax refund filing online.
To do so, we use Challan 280 for the below-mentioned types of payment of liable taxes.
| Type of Tax | Details |
|---|---|
| Advance Tax | This type of tax is only preferred where your current assessment year tax liability has exceeded over ₹10,000. Then you can make advance tax payments for the upcoming years based upon the calculation. |
| Surtax | This is a form of tax which someone or a company has to pay when they have crossed a threshold of said income and they have to pay the surtax, over the normal Income tax percentage over the income tax being calculated. |
| Tax on Distributed Profit | This type of tax is only liable for shareholders of a company or an organization where the profit from the company is being distributed between the whole shareholders. In such a case, the company and even the shareholders have to pay the taxes from their end. |
| Tax on Distributed Income | Other than the profit received by shareholders from the company, this charge or tax will be liable to the shareholders if they buy back shares or have distributed income. |
| Self-Assessment Tax | Salaried people have TDS which is debited by the Income Tax department in the form of PF and the self-assessment tax is carried out when you have to pay any of the balance tax on the assessed income which remains even after payment via TDS. |
| Tax on Regular assessment | This is a normal payment of tax such as Electricity tax, Water Tax, Land Tax, Property Tax, or more where a government has issued you a tax which an assesses has to pay during this current year of tax payments. |
Challan 280 Payment Methods
The payment may be made online and offline as well, which has paved two options. It is applicable for all citizens across India to make necessary taxes due to payments anytime they like. In our previous article, we have covered the two methods through which you can pay.
Online Payment: In this method, you will pay via the official website. Uses online transactions payment methods like Internet Banking, Credit card, and debit cards.
Offline Payment: Many people prefer to use offline payment. Where you have to visit the nearest bank branch to pay via Cash/Cheque/Demand Draft.
