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Tax Payment

Pay your direct and indirect taxes online through SIBerNet, South Indian Banks Internet Banking facility. As you know, online tax remittance is mandatory for most of the Tax Payments, both direct and indirect taxes.

All South Indian Bank Customers can avail this facility

Pre-requisites for Online Tax Payment

  1. Savings / Current / Other Accounts with SIBerNet (SIB’s Internet Banking Facility) transaction facility 
  2.  Valid PAN / TAN / ASSESSEE code 
  3.  Registration of PAN / TAN / ASSESSEE code with SIBerNet 
  4. Present limit for transactions through SIBerNet is Rs.1,00,000/- per day. For higher limits, you have to submit Limit Enhancement request at your respective branch.

How to avail the Tax Payment Facility

1. SIBerNet Personal customer – automatically available

(Existing SIBerNet Personal customers can automatically avail the Tax Payment facility as part of their SIBerNet facility.)

2. SIBerNet Corporate Customer - apply through respective branches

(SIBerNet Corporate Customer would be able to use the same only after applying for Tax Payment through their respective branches (even though the Tax Payment menu is visible in their SIBerNet Portal). SIBerNet Corporate Customer will have to apply through their branches for availing the facility by duly filling up the SIBerNet application form, along with the resolution/mandate and limit enhancement request (if any). The Mandate/Resolution shall assign an authorized user to make tax payments on behalf of the corporate enterprise.)

 Limit Enhancement

1. Fill in the Limit Enhancement request form and submit the same to the respective branch for enhancements.

  • Enhancement to a cap of Rs 10 Lakhs.
  • For a period of one year 
  • The same shall be reviewed every year 
  • If found that the facility is not being used the limit may be withdrawn and brought down to Rs 1 lakh 
  • The same shall be intimated to your respective branch, who shall intimate you regarding the same.

2. For any amount beyond Rs 10 lakhs,

  • The sanction may be obtained only for a specified time period till such Tax Payment process is completed, 
  • After Tax Payment is over the limit shall be automatically withdrawn by SIB. 
  • This if for the safety and security of you funds.

Various Tax Payments available in Tax Payment menu through SIBerNet.

Direct Taxes:

  •  TDS/TCS Payments 
  •  Income Tax 
  •  Securities Transaction Tax 
  •  Hotel Receipts Tax 
  •  Estate Duty 
  •  Interest Tax 
  •  Wealth Tax 
  •  Expenditure/Other Tax 
  •  Gift Tax 
  •  Fringe Benefit Tax


Indirect Taxes

  •  Central Excise Duty
  • Service Tax

 Tax Payment – Steps to be followed

1. Login to SIBerNet with User ID and Sign-on Password
2. Click on the “Transfers” option
3. Click on the “Tax Payment” menu on the left had side of the screen.
4. Accept the Terms & Condition before continuing to the next page.
5. The following options will appear on the screen

Register a PAN/TAN/ASSESSEE Code
Make a Payment
List of Registered PAN/TAN/ASSESSEE Code
View Payment Made
Terms and Conditions



PAN/TAN/ASSESSEE Code registration

1.Click on the option Register a PAN/TAN/ASSESSEE Code”
2. Key in your PAN/TAN/ASSESSEE Code  details details
3. Key in the exact name as given in your PAN/TAN/ASSESSEE Code in order to avoid rejection.
4. Once all data has been filled up click on the submit button to register your PAN/TAN/ASSESSEE Code to register your
5. The confirmation of your PAN/TAN/ASSESSEE Code registration will be sent to your registered Email with SIB for SIBerNet. your PAN/TAN/ASSESSEE Codewith SIB for SIBerNet.
6. The registration process would take a minimum of 2-3 days.
7.Only one PAN/TAN/ASSESSEE Code can be registered by a customer at a time. In order to register another PAN/TAN/ASSESSE Code, you will have to delete the existing registered PAN/TAN/ASSESSEE Code and register the new one as mentioned in the process above.
 
How to make Tax Payment
Once you have received the confirmation of PAN/TAN/ASSESSEE Code registration
 
1.       Click on the menu “Make a Payment” on the Tax Payment Main page
2.       Click on the type of tax payment that you would like to do – Direct Taxes or Indirect Taxes
3.       Different CHALLANS will be available to make the payment.
4.       Fill in the CHALLANS properly
5.       Select the Debit Account and Submit
6.       Once the payment is done, a reference number shall be displayed on the screen showing the successful completion of the transaction.
7.       You can view the same in the menu “View Payment Made”
 
How to get the Challan Identification Number (CIN)
1.       Click on View Payment Made and click on the reference number displayed to get the CIN
2.       The CIN will be available for View/print after minimum of one week’s time from the date of payment made.
Time frame for entire Tax Payment
3     SIBerNet Personal/Corporate users may remit the amount before 3:30pm (from Monday to Friday) and 12:30 pm (on Saturdays) for effecting the remittance to tax department on the same day.
4      The amount shall be remitted in four batches:
Monday - Friday
10:00 am
11:30 am
1:30 pm
3:30 pm
Saturdays
10:00 am
12:30 am
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Sundays/Holidays
No tax payment will be effected on any holidays or Sundays. Any such tax payment entries by the customer shall be effected only on the next working day at the above mentioned timings.