TDS Online Payment: It is mandatory to deposit the tax deducted at source to the credit of the Central Government on or before the due date. Here we will discuss how to deposit TDS online through Challan No.281 step by step. Deductors must deposit TDS to the Government otherwise they will have to pay interest, penalties, and sometimes even be prosecuted. Therefore, every deductor should be aware of the procedure for depositing TDS online, as well as the due dates and consequences for failure to do so. The purpose of this article is mainly to explain how to deposit TDS online through NSDL Challan No. 281.
How to Make TDS Payment Online?
Here is the step-by-step procedure to deposit TDS online through the NSDL’s Official website via CHALLAN NO.281.
STEP 1: Visit the official website of NSDL i.e. https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
STEP 2: This is the official page of deposit TDS online i.e. e-Payment of Taxes.
STEP 3: Select CHALLAN NO.281 (This is the TDS online payment challan).
STEP 4: Enter information such as the type of payment, the TAN, the nature of the payment, your email address, and your phone number.
STEP 5: The confirmation screen will appear after submission. The confirmation screen will display the taxpayer’s complete name if the TAN is valid.
STEP 6: You will be able to access the payment gateway after confirmation.
STEP 7: Pay according to the online TDS payment option you chose.
As soon as the e-payment has been made, a challan counterfoil will appear with the CIN, payment details, and bank name used for the e-payment. The counterfoil serves as proof of the payment. You must file your TDS return after paying TDS.
Due Date for TDS Payment Online
Deductors must pay TDS on time to the government. On delayed payment of TDS, the deductor is liable to pay interest and penalties. TDS payments are due on the following dates.
A non-government tax deductor shall deposit online as per the following timeline.
- TDS Deducted in the month from April to February – by the 7th of the following month
- TDS Deducted in the month of March – by the 30th of April
- When tax is deducted on the purchase of immovable property, the TDS deposit must be made by the 30th of the following month. ( If you purchase the property in June, TDS can be deposited by July 30th.)
- TDS on salaries, or interest other than interest on securities, or insurance commission, or commission or brokerage – 7th July, 7th October, 7th January, 30th April
In case of payment on behalf of the Government, TDS shall be deposited on the same day if not accompanied by a challan or within 7 days from the end of the month in which the deduction is made.
Consequences of Delay
- Tax at source deductions is liable to simple interest if the deductions are not deposited to the income tax department in full or in part.
- From the date of the TDS deduction to the date of the TDS payment, 1.5% interest will be charged on the TDS amount.
Cautions While Making TDS Payment Online
- Do not proceed to make an e-payment again before verifying the online bank statement if the counterfoil of challan is not displayed after confirming the payment.
- In the event that your bank account has been debited and a counterfoil of challan has not been generated, you should contact your bank.
- After making the payment, you can check the status of the challan on the NSDLTIN website.
- If you encounter any problems while making TDS payments online, you can contact NSDL. Here is the NSDL contact page. https://www.protean-tinpan.com/contact-us.html
- Check your online bank statement for the tax statement.
Recommended Article: TDS and TCS Amendments in Budget 2023
Here are some important links for TDS payment online.
|TDS/TCS Payment Online (Challan No./ITNS 281)||https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp|
|FAQ on TDS Payment||https://onlineservices.tin.egov-nsdl.com/etaxnew/faq-epayment-of-taxes.jsp|
FAQ on TDS Payment Online
Q. How do I pay TDS on a property purchase?
A. Tax deducted at source is required to be deposited to the credit of Central Government through Form 26QB within 30 days from last day of the month in which tax has been deducted. Here is the official link to make payment of TDS on property purchase https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp. Find here “TDS on Property (Form 26QB)” Payment of TDS on Sale of Property.
Q. What is the purpose of Form 26QD?
A. TDS payment Form No.26QD is used to pay TDS on the payment to resident contractors and professionals u/s 194M. Individuals/HUFs are covered by this section (other than those covered by section 194C, 194H, 194J). If the amount paid or payable during the financial year exceeds Rs. 50 lakhs, tax will be deducted. This form should be used when TDS is deducted under section 194M.