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Rule 125 of Income Tax Rules 1962: Electronic Payment of Tax

Rule 125 : Electronic payment of tax
(Part XV : Miscellaneous)

(1) The following persons shall pay tax electronically on or after the 1st day of April, 2008:—
(a) a company; and
(b) a person (other than a company), to whom the provisions of section 44AB are applicable.
(2) For the purposes of this rule :—
(a) "pay tax electronically" shall mean, payment of tax by way of—
(i) internet banking facility of the authority bank; or
(ii) credit or debit cards;
(b) the word "tax" shall have the meaning as assigned to it in clause (43) of section 2 of the Act and shall include interest and penalty.

Extra Notes for Readers:

- Rule 125 was introduced by the Income Tax (4th Amendment) Rules, 2008, w.e.f. 13th March, 2008

Check at Income Tax Dept. official site for latest version of the Rule.

This page was created/last updated on 17th October 2016.