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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

Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.

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