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Tax Deducted at Source is part of income tax. It is deducted during specific payments such as rent and commission by a deductor.
As a taxpayer, you need to remit this deducted amount to the government. Timely payment of TDS is essential to avoid penalties. You can opt for both online and offline procedures to pay this tax.
Continue reading to know more about this TDS payment online process and other vital details.
Follow the steps mentioned below to pay your TDS online and offline -
Step 1: Visit the official website of NSDL. Select "Click to pay tax online".
Step 2: Click on "Proceed" under "TDS/TCS Challan NO /ITNS281".
Step 3: You will be redirected to a page of "Challan No./ITNS 281". Fill in the mandatory fields such as assessment year, payment type and TAN. Enter the captcha and submit. If your TAN is valid, your full name as a taxpayer will appear on the screen.
Step 4: Once you confirm all information, you will be redirected to the net banking page. Here, log in with your existing net banking credentials to deposit TDS online.
After successful online TDS payment, a challan will be generated. This challan summarises the Corporate Identity Number, bank and payment details. Keep this carefully for future reference.
If you do not have internet access, you can deposit TDS offline. Take a look at a few simple steps mentioned below -
Step 1: First Download “Challan 281” from the official website of the Income Tax Department.
Step 2: Take a printout of this form. Fill in details such as TAN, your full name, residential address etc.
Step 3: Submit your payable TDS amount along with the challan to your nearest bank. After TDS challan payment, the bank will issue a stamped receipt after paying the TDS amount.
If you are wondering "how to check TDS payment status online", follow the simple steps mentioned below -
Step 1: Visit the official website of NSDL. Select CIN or TAN-based view based on your requirement.
Step 2: In the case of CIN, enter the following information:
Enter the verification code and select "View". You can view the following information -
Step 3: In the case of TAN, TAN and challan deposit date. Enter the verification code and click "View Challan Details". You can view the following details -
You can download the TDS challan file. This file is used to verify details of quarterly TDS payments.
Here are 3 steps to check payment status on the e-Filing website -
You can also use the net banking option to check your TDS payment status. However, you must link your PAN to the net banking portal to view it.
You must pay TDS to the government by the 7th month of a subsequent month. For example, if TDS is deducted in June, you must pay TDS by 7th July. Note the following deadlines to pay your TDS amount -
Dues Dates Applicable for Government Assessees
|
Type of Transaction |
TDS Payment Due dates |
|
Payment of TDS without challan |
On the day TDS is deducted |
|
Payment of TDS with challan |
7th of a subsequent month |
|
Tax remittance by an employer |
7th of a subsequent month |
|
Type of Transaction |
TDS Payment Due dates |
|
TDS deducted during March |
30th April of a given financial year |
|
TDS deducted during other months |
7th of a subsequent month |
In case of late payment of TDS, you need to pay the following penalties -
|
Type of Default Section 201 (1A) |
Interest on Late Payment of TDS |
Period of Interest Payment |
|
No deduction of TDS(fully or partly during transaction time) |
1% per month |
The interest rate is charged from the deduction date to the date on which the tax is deducted. |
|
Non-payment of tax after deduction of TDS |
Monthly or part payment of 1.5% or 0.75%. |
The payable interest is calculated from the deduction date to the date you paid TDS. |
To simplify it, let’s consider an example:
|
Payable TDS amount |
₹5000 |
|
Due date to deposit TDS |
13th January |
|
You paid the TDS amount |
17th January |
|
Interest payable for late payment of TDS |
1.5% per monthx₹5,000 = ₹375 |
In case TDS Payment After 1 month from the TDS Deposit Date
|
Month in which TDS is deducted |
1st August |
|
Due date to deposit TDS |
7th September |
|
You paid due tax |
8th September |
|
The payable interest rate is applicable for 2 months |
1st August to 8th September |
|
Interest payable for late payment of TDS |
2 months x 1.5 per month = 3% |
In addition to these interest payments, if a taxpayer fails to remit the deducted amount to the government, he/she is liable to face imprisonment. The term of imprisonment is not less than 3 months. This may extend up to 7 years along with a penalty payment.
You need to pay ₹200/day till you fail to pay TDS. The penalty should not exceed the TDS amount which is to be filed.
Go through the below-mentioned steps to know how to pay interest on late payment of TDS online:
TDS is a mandatory payment. Hence to avoid complications opt for TDS payment online. This will help you to skip the bank queue to submit TDS challan. Keep the procedures in for a quick and smooth payment procedure.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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