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of <h1>Rule 125 Requires Electronic Tax Payments for Section 44AB Entities from April 2008 Using Internet Banking or Cards.</h1> Rule 125 of the Income-tax Rules, 1962 mandates that, effective from April 1, 2008, companies and individuals subject to section 44AB must pay their taxes electronically. Electronic payment is defined as using internet banking or credit/debit cards through the authority bank. The term 'tax' encompasses interest and penalties as per clause (43) of section 2 of the Act. This rule was introduced through a notification in March 2008 as part of the Income-tax (Fourth Amendment) Rules.
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