Income Tax Challan – ITNS 280, ITNS 281, ITNS 282, ITNS 286, ITNS 287, & ITNS 26QB


 What is Tax?

The word tax is originally derived from taxation which means it is a compulsory financial charge that is paid to the government. Tax can be charged on goods, services, wealth, income, property, and sale & purchase of merchandise. In simple words, it is the amount that taxpayers pay to the government for the infrastructure and development of the country. The government uses this tax money to build and develop its nation and provide services such as education, health, sanitation, and security of the nation. 

Taxpayers pay a portion of their income or wealth to the government annually. If someone bought a new property or jewelry, they need to declare it to the government and if it is taxable then one has to pay tax for that. You all must have noticed whenever you go out to eat or buy some stuff you always pay more than the price of the goods and services. That is because you are also paying for goods and services tax known as GST which is one of the most common taxes and generates high revenue for the government. 

Another most common and highest-earning revenue tax is the Income-tax. Income tax is levied on an individual’s income but you only have to pay tax when your income falls into the slab. According to our economy, governments deduct tax only on net profits or net gains of individuals, business entities, and corporations. Now, people mostly pay income tax online according to their category. Many services help you to calculate your taxes and pay them online especially for business owners. Marg ERP can help individuals and business owners to calculate and pay their tax in easy steps. Earlier people used to hire accountants and CA to file their tax every time which is a very tricky process, especially for business owners. With the help of Marg ERP, the whole process can become smooth and it will save a lot of time and energy of doing tough calculations and rechecking.

Types of Income Tax Challan

The income tax department has categorized income tax into six challans. For every type of challan income, taxpayers have to fill different forms and submit them online while depositing tax. Every taxpayer pays personal income tax on a pay–as–you-earn basis. At the end of the tax year, the income tax department made the corrections Such as:

Taxpayers who have not paid enough during the tax year, make payment to the government 

Tax refunds have been filed by taxpayers who have: 

  • Overpaid 

The income tax department allows individuals certain personal allowances and other non-business reductions to taxable income. Every individual’s taxable income varies according to the economy. There are certain slabs classified for the taxable income of men and women. The income tax department has classified taxes and given them the challan identification number. For different purposes, a different challan identification number has been allotted and the taxpayer only has to fill that form to make the online challan payment. 

There is a total of six types of online challan payment which any taxpayer can easily pay at income tax online site such as:

  • Challan Type – ITNS 280

Challan Identification number or ITNS 280 is a type of form that can be filled by mostly all income taxpayers. The main purpose of filling this form is to pay tax such as Self-assessment tax, advance tax, regular tax, and surcharge tax on distributed income or distributed profits. Earlier taxpayers used to make payment through Income tax challan deposit banks but now anyone can easily make the online challan payment on the Income-tax online website.

Online challan payments are much easier and time-saving than visiting the Income-tax challan deposit bank. Anyone who has a net banking facility with any bank can make the payment. A taxpayer needs to visit the TIN NSDL website and fill the form for ITNS 280 and submit it with a deposit. In the form, you need to fill up the essential information such as pan card number, address, assessment year for which the tax is to be paid, and applicable tax.

Make sure to fill the correct PAN number, name, and address while depositing tax. Use different types of challan forms to deposit tax such as advanced tax and self-assessment tax and put the right code in front of every form to make the payment accordingly. Do not mix the financial year as the assessment year while filling the form.

  • Challan Type – ITNS 281

Challan number /ITNS 281 is used to deposit Tax deducted at source (TDS) or Tax collected at source (TCS). TDS challan status can be filled by corporate or non- corporate entities. Any taxpayer can do the income tax challan 281 payment online on the TIN NSDL website. TDS is a way of filing tax introduced by the government especially for salary and rent. A taxpayer deducts the Pays the specific percentage from their salary every month before assessing the actual value and if overpaid at the end of the financial year they can file for tax return.

Whereas, TCS Tax is an advanced tax deducted by the seller from the buyer on the goods and services they purchase. The due date of TDS and TCS is different for Government and non- government organizations. To file for the TDS payment anyone can visit the income tax challan 281 payment online link at the website. You have to fill out the essential information like before and also need to select the type of TDS payment such as section 94C for TDS deducted on the payment made to the subcontractor. Different sections under TDS select them carefully while making a deposit.

Each section has given codes, select the correct code for the required payment. Every business division is required to file the challan with one TAN number only which is a ten-digit number.

  • Challan Type – ITNS 282

ITNS 282 form is filled to deposit gift tax, estate duty, expenditure tax, and other miscellaneous tax. This is not a very popular challan form. For the different sections, you have to file different forms with their codes respectively. The challan online form is pretty common like others and you can make online challan payment through the income tax department’s online website. Any taxpayer must have net banking registered with any bank that can make the payment. If you don’t know how to do the complex tax calculations then you can use Marg ERP software for easy tax payments without any hassle.

  • Challan Type – ITNS 286

Challan number 286 is used for the payment of undisclosed income under the income tax declaration scheme 2016. A provision was introduced in 2016, to pay the taxes on the disclosed income of the previous year under the income tax declaration scheme. For the payment of such taxes, a payee needs to fill out online challan form 286. 

Income tax on such undisclosed income is paid at a 45 % rate as prescribed by the Income Tax Department. This provision is effective from 1st June 2016.

  • Challan Type – ITNS 287

Challan number 287 is used to pay the tax by those taxpayers who are planning to disclose income under Pradhan Mantri Garib Kalyan Yojana (PMGKY). The government launched the PMGKY scheme in 2016. Under the taxation and investment regime of PMGKY, any citizen can declare any of their income in the form of cash or deposit to pay tax. The payment of such taxes goes into the government account under Pradhan Mantri Garib Kalyan Yojana by using an online challan form number 287. To fill the income tax online challan 287, you need to give the essential details including your personal information. If you are paying the tax offline you need to make the payment with cheque or demand draft at income tax challan deposit banks.

  • Challan Type – ITNS 26QB

ITNS 26QB is used for the purpose to pay TDS on the sale of the property. As per the provision under section 194-IA, when any citizen buys a property or part of property other than agriculture land, costing more than 50 lakh Rupee is required to deduct TDS on such property at 1% at the time of making payment to the seller. Challan identification number 26QB can be used by both the corporate and non-corporate sectors.

Only the buyer can deduct the TDS at the time of sale at 1% on total sale value, not the seller. Both buyer and seller need to submit their PAN card number while filling the form and deposit the payment. No need to make any payment if the sale value is less than 50 lakh. Information on both the buyer and seller need to fill on the online challan form.


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