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Steps for E-payment of TDS | Company Vakil

Tax deducted at source is responsible for remitting the required TDS payment. This article states the concept of TDS e-payment.

Due date for TDS epayment -Government Assesses

Government connected assesses are required top remit their payments within the specified dates listed below;

  • Remittance of tax without challan -the day of deduction
  • 7th of the following month – Remittance of tax with challan
  • Tax on requisites remitted by the employer -7th of the succeeding month.

Due date for TDS e-payment -other assesses

Non-government assesses due date of remittance are as follows;

  • Month of March deductable tax-30th April of the second year.
  • Tax deductable in the other months and a tax depositing by the employer-7th of the following month.

Quarterly Payment Option

Joint commissioner with the permission from the assessing officer can permit tax payers to make quarterly Payment. The due dates for this option are ;

  • TDS which ends on 30th of June -7th july
  • TDS quarter which concludes on 30th sep-7th October
  • TDS quarterly payment that ends on 31st Dec -7th Jan
  • Quarter which conclude on 31st of March -30th April

E-payment of TDS

Dictator of TDS can make and submit payments through the following ways;

Step 1: Visit online website of TIN, NSDL

Step 2: choose the challan number (ITNS 281) for the payment of TDS.

Step 3:- input  valid TAN number.

Step 4:– Provide the details pertaining to the Person under which the payment is to be made, name and address of TAN,etc.

Step 5:– Submit the data; afterwards confirmation will be displayed on the screen,

Step 6:- Confirm the details in the challan, after which you will be redirected to the net banking page of the particular bank.

Step 7:- After successful submitting of the payment, a challan counterfoil would be displayed. The challan counterfoil is a Documentary evidence of the of payment.

Consequences of Delayed TDS Payment

If the taxpayer makes the TDS payment after the expiry of the specified date, he/she will be imposed with an interest at the rate of 1.5% for every month that they overstay the tax.  The rate of interest will be calculated based on the date of deduction of tax and not from the specified date of payment.

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