Hey folks, most of you perhaps are pissed off and even mad with the long line in order to beat the deadline with your tax payment dues. Well, the long worry has finally come to an end. Thanks to the innovation of technology and communication through the internet. Because of this creativity and informativeness, banks like SBI came up with their easy payment scheme, the so-called SBI e-Tax. So, relax and read this valuable article written just for you in order to facilitate your tax payment easier and more comfortable:
(i) What is SBI e-Tax?
SBI e-Tax is a process and a facility provided by SBI to all of its customers for on-line payment of all their Direct / Indirect Taxes i.e. to us Internet banking instead of going personally to the bank, through www.onlinesbi.com.
(ii) Who can utilize this product?
All customers of SBI, regardless if you belong to a corporate/firm or simply an individual, who have any current account with Internet Banking feature with any branch of the Bank, can transact and pay their taxes through SBI e-Tax even if the said branch is not actually authorized for doing and conducting Government Business.
(iii) What then is the basic requirement in paying of taxes through e-Tax.
The Taxpayer / Assessee needs to have a current and active account i.e. Savings, Current or Cash Credit account and any Internet Banking/Corporate Internet Banking registration with of course, transaction rights with any Internet Banking enabled branch.
(iv) Are there any charges for payment of taxes through SBI e-Tax?
No. There online payment of taxes is absolutely free of charge.
(v) How to pay Tax through SBI e-Tax?
The customer logs on to www.onlinesbi.com, which gives internet banking facility and selects SBI e-Tax for selection of the kind of tax to be paid. All Direct / Indirect taxes may be paid very easily by filling up the required information in the prescribed format and also an instant Cyber Receipt is generated.
(vi) What are the advantages of SBI e-Tax?
a. It is very convenient, hassle free and simple screen based, menu driven, and user-friendly process.
b. Always available anywhere, anytime – 24×7
c. Available to all SBI-INB customers (individuals/corporates) even from the comfort of their home/office.
d. No charges.
e. No paper challans.
f. No cash/drafts required.
g. No queues.
h. Can ensure correctness and accuracy of data – PAN/TAN no., the assessment year, Head of account, amount of tax etc. and on-screen before authorizing payment.
i. It hasquick acknowledgement- cyber receipt, which can be stored or printed.
(vii) Why prefer SBI for e-tax payment?
a. Largest no. of taxpayers does their tax payments through SBI.
b. Safest and Secured Network.
c. Largest network of branches simply means we are ready to offer the Internet Banking facility even in your neighbourhood.
Here are also a more easy to do step-by-step way to do the SBI e-tax
User-friendly procedure for Direct Tax payment through SBI e-Tax:
Step 1: Visit http://www.onlinesbi.com and click on “SBI e-Tax”.
Step 2: Select “Direct Taxes (OLTAS)’. You are directed to NSDL site.
Step 3: Select Challan Type.
Step 4: Enter Challan Details and select “State Bank of India”.
Step 5: Confirm Assessee details. You are redirected to www.onlinesbi.com
Step 6: Log onto www.onlinesbi.com with “Username and Password”.
Step 7: Enter tax details.
Step 8: Confirm payment details.
Step 9: Print Instant Cyber Receipt and logout.
For Indirect Tax payment through SBI e-Tax (Central Excise and Service Tax):
Visit http://www.onlinesbi.com and click on “SBI e-Tax”.
Step 1: Select ‘Indirect Taxes (CBEC)’.
Step 2: Login with the title Corporate Internet Banking with ‘Username and Password”.
Step 3: Select funds transfer and go to Indirect Taxes option.
Step 4: Fill the Assessee Code provided by CBEC
Step 5: Verify Commissionerate details and Major heads.
Step 6: Select appropriate minor heads, fill the amount of tax/education
cess to be paid, and account to be debited.
Step 7: Enter Transaction Password & click on “Make Echeque”
Step 8: Note e-pay order number.
Step 9: Authoriser to log in with ‘Username’ & ‘Password’ (In case of CINB
Step 10: Click on ‘View Inbox’ and select Txn. you want to authorise.
Step 11: Give transaction password & click on ‘Go’.
Step 12: Print or save the Instant Cyber Receipt.
- Steps In E-filing Tax Returns
- Easy Steps to Tax Filing
- Tax Planning For First Timers
- Advantages and Disadvantages of Online Banking
In conclusion, we must therefore maximize the use of SBI e-Tax mode of payment so that we will not anymore stand and wait in long lines for our turn to pay our taxes. This informativeness is indeed a very important landmark in banking and will surely be appreciated by the taxpayers.