TaxTMI 
TaxTMI 
Electronic Mode of Payment
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....lectronic Mode of Payment <br>News and Press Release<br>Dated:- 28-11-2014<br><BR>Income Tax Rules provide that the following persons shall pay tax electronically (i.e. internet banking facility or th....
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....rough credit/debit cards) on or after the 1st day of August, 2008: i. A company; and ii. A person (other than a company), to whom the provisions of section 44AB of the Income-Tax Act 1961 are applic....
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....able. As per the report of Central Board of Excise and Customs (CBEC): i. With effect from 01.10.2014, it is mandatory for all Central Excise assesses and service provider/tax payer to electronicall....
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....y pay duty through internet banking. ii. E-payment of duty is mandatory for Accredited Clients Programme (ACP) importers paying duty of ₹ 1.00 lakh or more per Bill of Entry. Further, Governme....
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....nt in August 2011 had asked Public Sector Banks (PSBs), Financial Institutions (Fls) and Public Sector Insurance Companies (PSICs) to deal with payments to staff, vendors, suppliers and disbursement o....
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....f loans and payments towards instalments and investments only through direct credit to accounts. This was stated by Shri Jayant Sinha, MoS in the Ministry of Finance in written reply to a question in....
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.... the Lok Sabha.<BR> News - Press release - PIB....