Income Tax News: TDS Not Deducted? Here’s How Senior Citizens Can e-Pay Tax for AY 2024-25

Income Tax News: Filing income tax is a duty every citizen must fulfill, however senior citizens occasionally run into problems when banks fail to deduct TDS from their pension accounts. This issue occurs when the Dearness Allowance (DA) is raised, which increases the pension and changes the tax bracket for senior citizens. In such instances, banks may neglect to deduct TDS, requiring retirees to pay the tax on their own or through the income tax website via a CA. This is a detailed tutorial explaining how senior citizens can e-Pay their taxes for the 2024–2025 assessment year.

Step-by-Step Guide to e-Pay Income Tax

1. Visit the Income Tax Portal: Go to the official website of the income tax department - incometax.gov.in.
2. Login or Register: Login using your PAN card details and password. If you don’t have an account, start by registering yourself on the portal.
3. Navigate to e-Pay Tax: After logging in, go to the menu and select 'e-File.' From the drop-down menu, choose 'e-Pay Tax.'
4. Initiate New Payment: A new window will open. Select 'New Payment' located at the top right of the page.
5. Choose Income Tax Payment: The first option will be 'Income Tax,' and within this, several types of taxes will be listed.
6. Select the Assessment Year: Choose the year for which you are paying the tax. On the right side, select 'Self Assessment Tax (300).'
7. Enter Tax Amount: Enter the total tax amount you need to pay in the designated tax bracket.
8. Select Payment Method: After submitting the amount, a new window will appear for choosing the payment method. You can opt for debit card, credit card, internet banking, or UPI.
9. Complete the Payment: Fill in the required payment details and proceed.
10. Download the Challan: Once the payment is complete, a challan will be generated. Download and keep a copy for your records.

Seniors may effectively handle their online tax payments by following these measures, which will guarantee compliance and help them avoid penalties for failing to deduct TDS. Retirees can manage their tax obligations more easily by paying taxes electronically through the income tax website, which is a simple and comfortable process as the July 31 deadline approaches.