Paying Advance Tax / Self-Assessment Tax Online

Hey everyone! Welcome back to my Channel. If you're earning income in India, you might need to pay Advance Tax or Self-Assessment Tax. But how do you do it? 🤔 👉 In this video, I'll show you a step-by-step guide on how to pay your taxes online through the Income Tax Department’s portal. Stick around till the end, and I’ll also cover due dates, penalties, and tips to avoid extra interest! ✅" 🔔 "If you find this useful, don't forget to Like, Share, and Subscribe!" 📌 What is Advance Tax & Self-Assessment Tax? 🎤 "Before we dive into the process, let’s quickly understand: 1️⃣ Advance Tax – If your total tax liability exceeds ₹10,000 in a year, you must pay it in installments before the financial year ends. 2️⃣ Self-Assessment Tax – If you have any outstanding tax after filing your return, you must pay it before submitting your ITR. 📌 "Now, let’s see how to pay this tax online!" 📌 Step 1: Visit the Tax Payment Portal (1:30 - 2:00) 💻 "Open your browser and go to the official TIN-NSDL e-Payment portal." 🔗 https://onlineservices.tin.egov-nsdl.com/e... 👉 "Alternatively, you can visit the Income Tax e-filing portal: https://www.incometax.gov.in and click on e-Pay Tax." 📌 Step 2: Select the Correct Challan (2:00 - 2:30) 📝 Choose "Challan No./ITNS 280" for individual taxpayers. Then, select the correct tax type: (100) Advance Tax – If paying before March 31. (300) Self-Assessment Tax – If paying after filing ITR. 📌 Step 3: Fill in Your Details (2:30 - 3:30) ✅ Enter the following: PAN Number (Ensure it’s linked to your bank). Assessment Year (AY) – If paying for FY 2024-25, select AY 2025-26. Tax Type – Income Tax (Other than Companies). Payment Method – Choose Net Banking, Debit Card, or UPI. Amount Payable – Calculate using your estimated income. 📌 "Double-check all details before proceeding to payment!" 📌 Step 4: Make the Payment 💳 "Now, proceed with your preferred payment method: Net Banking for instant payment. Debit Card/UPI for ease of payment." 🔹 After payment, you will get a challan receipt (Challan 280) with: ✅ BSR Code ✅ Challan Serial Number 📩 Save this receipt! You’ll need it while filing your ITR 📌 Step 5: Verify Payment in Income Tax Portal ✅ To confirm your payment, log in to: https://www.incometax.gov.in." Go to e-File → Income Tax Return → Pre-filled Data and check if your payment reflects in the "Tax Paid" section. 📌 Advance Tax Due Dates & Penalties 🗓️ "If your tax liability is more than ₹10,000, you must pay Advance Tax on time to avoid interest under Section 234B & 234C." ✅ Due Dates for FY 2024-25: 15th June – 15% of tax liability 15th September – 45% of tax liability 15th December – 75% of tax liability 15th March – 100% of tax liability 📌 "Missed the deadline? You may have to pay an extra interest penalty!" 📌 Bonus Tip: How to Avoid Interest & Penalties! 💡 "Want to avoid extra charges? Here’s a quick tip: 1️⃣ Estimate your income early and pay tax in advance. 2️⃣ Use online tax calculators to know your tax liability. 3️⃣ Set reminders for due dates to avoid penalties!" 📌 Conclusion & Call-to-Action 🎤 "That’s it! Now you know how to pay Advance Tax & Self-Assessment Tax online in just a few minutes. 💬 "Do you have any questions? Drop them in the comments!" 🔔 "Like, Share & Subscribe for more finance tips. See you in the next video!"