TDS trend for online TDS payment 280, 281: Tax Deducted at Source or TDS is a kind of in-direct tax handled by the Central Board of Indirect Taxes. Under TDS, the special payments that a person / company deducts from TDS are salary, commission, rent, etc. TDS is deducted before making such payments to individuals, companies. Whoever deducts these TDS under the Income Tax Act, the person / company has to deposit the amount of these TDS with the Income Tax Department.
TDS Filling Date
The person who collects TDS has to submit it to the government till the 7th of the coming month, but for the month of March, this date is 30th April. Every TDS person / company submits, a statement has to be submitted to the government every three months after which the TDS certificate is issued to the person / company. ‘TDS Challan’ is used to submit TDS to the government. A challan can be used to collect tax under several sections in the Income Tax Act. If government or individual / company has to give TDS without challan, then they have to submit TDS on the day it is taken.
TDS Challan 281
These challans are used by corporate and non-corporate entities for TDS deposits. The seller of TCS or TDS takes from the buyer when he sells some specific goods. The tax payer can submit TDS Challan 281 online or offline. Challan Identification Number (CIN) is issued when payment is made online or by bank.
TDS Invoice 280
Advance tax, self-assessment tax, surcharge, regular assessment tax, tax on distributed profit or income, and other types of tax payments can be made from Challan 280. These operations can be submitted in two ways – online or offline. Challan N / ITNS 280 is required for payment of income and corporate tax.
TAN required for cutting TDS
Every person / company who deducts TDS gets a Collection Account Number (TAN). On submission of Form 49B, the person gets a 10 digit alpha-numeric TAN, which is available on the NSDL website. When depositing TDS in the Income Tax Department, if TAN is not stated, then Rs. 10,000. May be fined.
How to TDS Payment Online
To pay TDS online with suitable invoices, follow the following method:
- Log in at http://www.tin-nsdl.com .
- Select the appropriate invoice which is ITNS 280, ITNS 281, and etc.
- Insert PAN / TAN (whichever is appropriate) and other necessary information.
- After this, submit the data. If PAN / TAN is valid then according to ITD PAN / TAN master, the full name of the tax payer will appear on the screen.
- Once the information is confirmed, the tax payer will be taken to the bank’s net banking site.
- The tax payer will have to log in with the user ID / password on the net banking site which will be given by the bank. You can pay after that.
- Once payment is made, an invoice will come with CIN. This is the proof of payment.
How to know the TDS status / status of TDS Challan?
Taxpayers can easily know the status / status of TDS challan online. The method is as follows:
- Visit the TIN-NSDL website https://tin.tin.nsdl.com/oltas/index.html
- Select view based on CIN (Invoice Identification Number) or View based on TAN
- To see the status / status, fill whatever information is necessary.
- Tax deductors can download the challan for a selected time from the TAN based view, which can help in checking the challan entries e-TDS / TCS statement has been filled.