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E-Taxation

E-Taxation refers to the electronic payment of taxes and filing of returns by individuals and companies to the government. It includes two main types of taxes: Direct Tax, which is paid directly on income and property, and Indirect Tax, which is levied on consumption. Online tax systems offer advantages such as faster processing and lower costs, but they also pose risks like identity theft if security measures are not taken.

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1K views1 page

E-Taxation

E-Taxation refers to the electronic payment of taxes and filing of returns by individuals and companies to the government. It includes two main types of taxes: Direct Tax, which is paid directly on income and property, and Indirect Tax, which is levied on consumption. Online tax systems offer advantages such as faster processing and lower costs, but they also pose risks like identity theft if security measures are not taken.

Uploaded by

parulsindhwani610
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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E-Taxation

E-Taxation is the practice of electronic payment of taxes, and filling of returns by


companies and individuals to the government. The government of every nation
needs to collect taxes from its citizens to run the country. You pay taxes to your
local authorities & state & central government in almost every part of the world.
Tax collection is essential to run a nation judiciously. Countries collect taxes in
many forms. In India, there are primarily two types of taxes:
➢ Direct tax
➢ Indirect tax
Direct and Indirect Tax are two types of taxes imposed on the property and
income of individuals and companies, which is paid by them directly and
indirectly to the government respectively.
Direct Tax :-
Tax that is imposed on the property and income of individuals and companies,
and is paid by them directly to the government is known as Direct Tax. For
example, Corporate Tax, Income Tax, Death Duty, Capital Gains Tax, etc.
Indirect Tax :-
Tax that has an impact on the income and property of individuals and companies
through their consumption expenditure is known as Indirect Tax. For example,
GST (Goods and Services Tax).
Online tax systems are rapidly replacing paper-based tax reporting systems.
Promising many advantages over the traditional method of hard copy tax filing,
these systems promise faster process, lower costs and increased efficiency. But
If something happens to your computer or your computer has a virus, e-filing
your tax return via that computer can lead to identity theft or errors in your tax
return.
➢ To avail of this facility you are required to have a Net-banking/Debit card
of the selected bank.
➢ You can pay e tax online by visiting the portal of e- Payment for TIN
(https//onlineservices.tin.egovnsdl.com/etaxnew/tdsnontds.jsp). Select
the relevant challan or form, fill in and make the submission. After the
form has been submitted, you will be directed to the net banking page,
where you can make the payment.

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