e-PAO (Electronic Pay and Accounts Offices)
In addition to the conventional method of Direct Tax Payment i.e. physical payment mode offered by banks to assesses, e-Payment of Central Board of Direct Taxes has been started by the Office of Principal Chief Controller of Accounts (O/o Pr.CCA) in coordination with the Central Board of Direct Taxes (CBDT). Security norms to be followed by the banks for all e-transactions are defined by the Reserve Bank of India (RBI).
The main objectives of e-Payment of Central Board of Direct Taxes are:
- To facilitate anytime, anywhere payment and instant cyber receipt.
- To offer the facility of making online payment of Direct Tax through bank’s internet banking service.
e-Payment of Central Board of Direct Tax has been made mandatory w.e.f. 01.04.2008 in respect of those assesses whose have paid Direct Tax(Income Tax/Corporation Tax). In the present scenario we are receiving 70% of the total receipts through e-mode, which consist 100% of collection of corporation tax and approx. 30 to 35% of Income Tax collection. Since the collection of receipts is increasing day by day and involvement of e-mode of collection is replacing convention method of collection.
In the electronic mode of payment there is no direct customer interaction at the bank counter and hence no paper challan from the taxpayer is required. The Internet Banking System will capture the challan details for all e-receipts in the prescribed file format. Since the challan details are electronically captured, the digitally signed e-Challan data is provided by the banks to the designated e-PAO.
Since, physical movement of challans and scrolls in the case of e-receipts ceased to exist, faster remittance of revenues to Govt. account is ensured. With the availability of digital challan details, detailed accounting to be done at e-PAO, based on the classifications appearing in the e-Challans. It will be very helpful for speedy accounting, reporting & faster remittance of tax revenue in Govt. Account and electronic reconciliation of all e-receipts in speedy manner.
Good quality and complete tax information available with e-PAO in respect of e-Receipts and easily access to any reports.