The Tax Deducted at Source or TDS is the tax amount which is deducted by the responsible deductor and paid on behalf of the assessee to the tax department. The deductor is required to remit the TDS amount to the government within a stipulated deadline. This payment can be made online.
Process for e-payment of TDS
The payment of TDS or Tax Deducted at Source can be made online through the NSDL’s official website. The process of e-payment is discussed below.
Step 1: Visit the official website of NSDL (http://www.tin-nsdl.com) > Services > e-payment. On the main page click on ‘Click to pay tax online’.
Step 2: From the list of applicable challans which appears on the home page of the website, click on the ‘CHALLAN NO./ITNS 281’ option.
Step 3: You will be directed to a separate page where you will have to fill in the details as required.
Step 4: The user will be redirected to a new webpage as shown below. In this page, the details pertaining to the tax applicability, the Tax Deduction Account Number (TAN), the Assessment Year (AY), the Pin Code and State, the payment mode, and the type of payment are to be filled up. Once all the fields have been filled up, the user will be required to fill in the Captcha code and click on the ‘Proceed’ button.
Step 5: Once the form is submitted, the TAN will be verified. On successful verification, the taxpayer’s full name will be prompted on the screen.
Step 6: After the user confirms the data, he/she will be redirected to the net banking website of the bank.
Step 7: The user will be required to log in to his/her internet banking profile and make the payment of TDS.
Step 8: After the successful payment, a counterfoil challan will be generated and displayed on the screen. This challan will have the Corporate Identity Number (CIN) and details pertaining to the payment and the name of the bank through which the payment was made. This challan can be saved for future reference.
Due dates or deadlines for TDS Payment
The deadlines for the payment of TDS are different for government assessees and other assessees. The due dates are listed below:
- Due date or deadline for TDS Payment for Government assessees: The due dates for payment of TDS for Government assessees are as follows:
|For the remittance of taxes without challan||The day of deduction|
|For the remittance of taxes with challan||7th of the following month|
|Taxes charged on perquisites which are remitted by the employer||7th of the following month|
- Due date or deadline for TDS Payment for all other assessees: The due dates for payment of TDS for all other assessees except Government employees are as follows:
|Taxes which are deductible in the month of March||30th April of the following year|
|Taxes which are deductible in the other months||7th of the following month|
- Quarterly payment option: The taxpayers can be permitted by the Assessing Officer to make TDS payments on a quarterly basis. However, this can be done only with the approval of the Joint Commissioner. The due dates for quarterly payments are as follows:
|For the quarter ending on the 30th of June||7 July|
|For the quarter ending on the 30th of September||7 October|
|For the quarter ending on the 31st of December||7 January|
|For the quarter ending on the 31st of March||30 April|
What happens if you delay the TDS payment?
In the case of delay in TDS payment due to non-deduction of tax at source, an interest of 1% per month is charged on the due amount. This interest is charged from the date on which the tax was deductible to the date when the actual deduction is made.
In case of delay in TDS payment after the deduction of tax at source, an interest of 1.5% per month is charged on the due amount. The interest is charged for every month or every part of the month during which the payment is delayed. The rate of interest is charged from the date of deduction of the tax amount.