Rule 125 - Electronic-payment of tax - Income-tax Rules, 1962

1 [Electronic-payment of tax. 125. (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 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. ] --------------- Notes: 1. Inserted vide notification no. 34/2008 dated 13-3-2008 (Income-tax (Fourth Amendment) Rules, 2008)