What is Challan 280 and Form Use for Advance tax

Where i can find Challan 280 and What is the exact use of Challan 280, Is the number for advance tax is 280 or any other, What are the modes of payment for advance tax in the said form, Can we pay Challan in online or any bank like SBI, ICICI and other…

Challan 280

Challan 280 is a very important Income tax related form which is used for the Income tax payment of different types. Every year people all across India have to fill their Income tax and sometimes you also have to make Income tax payment of different forms such as Advance Tax that is payable on occasions. While it can also be used for self-assessment tax and the tax that is for regular assessments, distributed profits over a land property or rents as well.

The government of India has now made the online TIN NSDL website a blessing for tax payers because with the help of Challan 280 or ITNS 280 you can now pay for all your pending taxes and dues for the current or previous years as well.

In this way, the government has made sure that the offline payment via Challan 280 form is not just the only method but users can now seek the online TIN NSDL website to pay for the tax dues in an instant with different payment options available as well.

If you have not paid your previous year or current year due taxes which are liable for you to file for the present year Income tax returns, then even after filling of the ITR you will not receive any returns because you have not completely paid your pending taxes.

In order to help people, solve this issue of pending taxes where someone forgets to pay for home, rent, land, water or electricity tax we use Challan 280. Please note that this challan can also be used by commercial brands and companies who have yet to pay their taxes and upon paying of which even they can easily file for Income tax returns from either online or offline.

Why to Pay Income Tax Dues – Profit of using Challan 280

One of the important things to understand that is you can only be allowed to file for Income Tax return at the end of the year in December month if you have paid all your Tax dues.

Every citizen of India who owns a property, land, vehicle or some sort of ownership have a payable tax to the government which should be cleared. Only if those taxes are paid in full, one will be allowed to apply for Income Tax returns at the end of the year via eFiling.

But there are some cases where people are 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 be allowed for efiling stage for ITR returns.

Few of the minor government taxes that every has to pay but forget also include the Water Tax, Electricity tax, and the profit of using Challan 280 is that you will be able to rectify all the Income Tax dues that you have on your current and the previous years as well.

Once those are done you will be able to make online payment for all the liable taxes that you should making the payment. Since we are talking about the online Challan 280, once you submit the details you will have to make the payment which can be done via different payments options that include Internet Banking, Credit Card and Debit card as well.

Challan 280 & ITNS 280 Tax Payment Types

Challan 280 is not only for Individuals but also for companies who run their commercial business across India, and the individuals like you and me, along with big companies have pending taxes which they have to make sure are closed before the year end self-assessment through the Income tax refund filing online, and in order to do so, we use the Challan 280 for the below mentioned types of payment of taxes that are liable.

Type of Tax Details
Advance Tax This type of tax is only preferred where your current assessment year tax liability have exceeded over ₹10,000. Then you can make advance tax payments for the upcoming years based up on 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 a 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 shareholder from the company, this charge or tax will be liable on 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 Offline & Online

Challan 280 payment can be done via online and offline as well which has paved two options for citizens across India to do necessary tax due payment anytime they like, and In our previous article we have covered the two methods through which you can pay.

Online Payment : In this method you will pay via official website and uses online transactions payment methods like Internet Banking, Credit card and debit card – Find the process of Income tax challan 280 online payment

Offline Payment : There are many people who prefer to use the offline payment where you have to visit the nearest bank branch to pay via Cash/Cheque/Demand Draft – check the process for Advance Tax offline payment

Leave a Comment