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E-payment of Taxes

Manish Agrawal


Dear All,

Greetings from M. K. Agrawal & Co.!

Your attention is drawn towards some relevant guidelines related to payment of tax liability.

Central Government Account ( Receipts and Payments) Rules, 1983:

Date of Receipt for Cheques or Drafts: The Central Government Account (Receipts and Payments) Rules, 1983 contain, inter alia, regulate public moneys received by or on behalf of the Government of India. As per clause 20 of Part I (Preliminary and General Principles), the Date of receipt of Government revenues, dues etc. is determined as follows:

Government dues tendered in the form of a cheque or draft which is accepted under the provisions of rule 19 and is honored on presentation, shall be deemed to have been paid-

Rule 125 of Income Tax Rules, 1962:

Electronic Payment of Tax: Rule 125 of Income Tax Rules, 1962 relates toElectronic Payment of Tax. The relevant provisions are as under:

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.

For the purposes of this rule: "pay tax electronically" shall mean, payment of tax by way of internet banking facility of the authority bank; or


Feel free to write as at camanishkumar@yahoo.com

CA Pulkit Sharma


Nowdays most of the banks does not allow cash payment of Advance Tax. Is there any rule which requires them to accept only cheques for advance tax payments?

Does RBI specify it or Income Tax Act?


Manish Agrawal


No there are no as such rules, this is completely bank policy.