Anew income tax e-filing portal has started allowing payment of taxes through the service of e-Pay Tax window on the portal itself. Customers of specific banks that have migrated to this system from the TIN NSDL website will now have to visit the e-filing income tax portal to pay their income tax.
As per CBDT directions, many banks have to switch over from the OLTAS e-Payment of Taxes facility on the TIN NSDL website to the new Direct Tax Payment System called CPC 2.0 – TIN 2.0 on the new income tax e-filing portal with respect of collection of direct tax through internet banking and over the counter.
Hence, individuals are now advised to navigate to e-Pay Tax on the new income tax portal to make direct tax payments if they are making payment using specific banks.
Axis Bank, Central Bank of India, ICICI Bank, Indian Bank, Karur Vysya Bank, Bank of Maharashtra, Canara Bank, Indian Overseas Bank, Bank of India, Federal Bank and Kotak Mahindra Bank have migrated to the new income tax portal and are no longer available on the NSDL portal for income tax payments:
Banks may have informed their customers of this change. ICICI Bank did it by sending an SMS to its customers that said: “Income Tax Department has migrated ICICI Bank to new Tax Information Network version 2.0 for payment of Direct Tax.”
Advantages for taxpayers:
The new income tax portal has several advantages over the NSDL window. For one, e-Pay Tax offers a wide range of payment options such as debit cards, net banking, RTGS/NEFT, payment gateways (UPI, credit cards) and pay-at-bank counters; the NSDL website allows payment only using net banking and debit cards.
Disadvantages/Charges on tax payment:
However, some charges are applicable in certain cases while using e-Pay Tax. Transaction charges will be levied if an individual opts to pay income tax via NEFT/RTGS and uses the payment gateway. If an individual opts for the Federal Bank payment gateway, then 0.85% extra will be applicable if payment is done via a credit card and Rs 5-12 if done through net banking. The NSDL website did not have such charges.
