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 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.