{"id":7061,"date":"2022-02-17T13:12:59","date_gmt":"2022-02-17T07:42:59","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=7061"},"modified":"2022-05-25T18:12:36","modified_gmt":"2022-05-25T12:42:36","slug":"how-to-make-tds-payment","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/how-to-make-tds-payment\/","title":{"rendered":"How To Make Your TDS Payment Online: Tax Deducted at Source Guide"},"content":{"rendered":"\n<p>As the <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-income-tax\/\">income tax<\/a> returns season comes around, new and existing taxpayers both have several doubts. One of the most common doubts is regarding <a href=\"https:\/\/www.tickertape.in\/blog\/all-you-need-to-know-about-tds-on-salary\/?utm_source=blog&amp;utm_medium=article\">TDS<\/a>. What is <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-tds-and-how-to-file-it\/\">TDS<\/a>? What are the due dates, and how do you pay them?&nbsp;<\/p>\n\n\n\n<p>All these questions have been explored down below.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/how-to-make-tds-payment\/#What-is-TDS\" title=\"What is TDS?\">What is TDS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/how-to-make-tds-payment\/#How-is-it-deducted-and-what-are-the-due-dates\" title=\"How is it deducted, and what are the due dates?\">How is it deducted, and what are the due dates?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/how-to-make-tds-payment\/#How-to-pay-TDS\" title=\"How to pay TDS?\">How to pay TDS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/how-to-make-tds-payment\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"what\"><span class=\"ez-toc-section\" id=\"What-is-TDS\"><\/span><strong>What is TDS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TDS stands for Tax Deducted at Source. It is a norm that the government has imposed to make life easier for taxpayers. As the name suggests, the tax is deducted by the source of payment.&nbsp;<\/p>\n\n\n\n<p>The entity who is making the payment in the form of wages, salary, rent, etc., pre-emptively deducts the tax liable from the payment and then pays the rest to the payee. The TDS collected by the paying entity is then given to the government. The total tax liability of the payee is then adjusted in accordance with the TDS cut by the payer.<\/p>\n\n\n\n<p>For instance, assume that you owe a person \u2018X\u2019 amount and pay them Rs. 40,000 monthly in the form of interest. If the <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-income-tax\/?utm_source=blog&amp;utm_medium=article\">income tax<\/a> rate is 10%, \u2018X\u2019 is liable to pay Rs. 4,000 in taxes. Taking this into consideration, you pay \u2018X\u2019 Rs. 36,000 only. The Rs. 4,000 will be considered as TDS, and X\u2019s tax liability, in the end, will be lessened accordingly. You then pay Rs. 4,000 to the government either online or offline.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how\"><span class=\"ez-toc-section\" id=\"How-is-it-deducted-and-what-are-the-due-dates\"><\/span><strong>How is it deducted, and what are the due dates?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Firms usually deduct TDS from their employees&#8217; salaries according to the income tax slabs their income falls under. Banks deduct 10% and 20% with and without PAN card information, respectively, for the interest earned.&nbsp;<\/p>\n\n\n\n<p>In case your total taxable income is lesser than the taxable limit, you are not liable to pay any TDS at all. Here, you may submit proof of this to avail the benefit. Similarly, upon submitting 15G and 15H forms to your bank, in case your income is below the taxable limit, the bank will not deduct any TDS from the interest earned by you.<\/p>\n\n\n\n<p>If it so happens that you have been unable to submit the necessary documentation on time and TDS has already been cut, you can claim the amount back by filing for income tax returns.<\/p>\n\n\n\n<p>Entities that collect TDS are liable to pay it to the government by the 7<sup>th<\/sup> of the next month. Only for the month of March, the due date is 31<sup>st<\/sup> April. For instance, if you have collected your employees\u2019 TDS for the month of January 2021, you have to pay it to the government before the 7<sup>th<\/sup> of February, 2021.&nbsp;<\/p>\n\n\n\n<p>However, it must be noted that there are different due dates for other TDS deductions like on rent, property purchase, and so on.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"TDS\"><span class=\"ez-toc-section\" id=\"How-to-pay-TDS\"><\/span><strong>How to pay TDS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following steps can be undertaken to pay TDS online.<\/p>\n\n\n\n<p><strong>Step 1:<\/strong> TDS can be paid online using the official government NSDL website page for e-Payment of Taxes. This can be accessed by opening the <em>\u2018Services\u2019<\/em> menu on the NSDL website and then selecting the <em>\u2018e-Payment: Pay Taxes Online\u2019<\/em> option.&nbsp;<\/p>\n\n\n\n<p><strong>Step 2:<\/strong> Under the TDS\/TCS section, you will find a section titled <em>\u2018CHALLAN NO.\/ITNS 281\u2019. <\/em>Upon clicking the <em>\u2018Proceed\u2019 <\/em>button, you will be directed to the e-payment page.<\/p>\n\n\n\n<p><strong>Step 3:<\/strong> On the e-payment page, you will be required to fill in a couple of details like tax applicable, type, nature and mode of payment, tax deduction account number (TAN), address and so on. You will also have to fill in a <em>CAPTCHA<\/em> code. After correctly filling in all the details, click on<em> \u2018Proceed\u2019.<\/em><\/p>\n\n\n\n<p><strong>Step 4: <\/strong>After your TAN has been verified, your name and other details will be shown on the screen. Confirm these details.<\/p>\n\n\n\n<p><strong>Step 5:<\/strong> Upon confirming these details, you will be redirected to the net banking site of your bank. Login to your account by entering your net banking details and make the necessary payment.<\/p>\n\n\n\n<p><strong>Step 6: <\/strong>After the payment has been completed successfully, a counterfoil challan will be available to you, which contains details like the Corporate Identity Number (CIN), the amount paid, and other details. This can be saved for future reference.<\/p>\n\n\n\n<p>The following steps can be undertaken to pay <strong>TDS offline.<\/strong><\/p>\n\n\n\n<p><strong>Step 1: <\/strong>Download the TDS Challan sheet in Microsoft Word format to your computer. This is available on the official NSDL website.&nbsp;<\/p>\n\n\n\n<p><strong>Step 2:<\/strong> Fill in the necessary details like TAN, address, type of payment, amount payable and other details either on your computer or print out the form and fill in the details by hand.<\/p>\n\n\n\n<p><strong>Step 3:<\/strong> Submit the form along with a cheque of the payable amount\/ cash by visiting your bank\u2019s nearest branch. The bank will furnish you with a counterfoil receipt with the bank\u2019s stamp. This can be saved for future reference.<\/p>\n\n\n\n<p>Usually, online payment of TDS is preferred by most as it is more convenient.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As a responsible citizen, it is your responsibility to ensure that all of your tax formalities, including TDS, are accounted for before the deadlines.&nbsp; In the above article, we have explained how to make TDS payments step by step. Make sure you follow them carefully. Reach out to your CA or financial advisor before filing any returns or accounting for taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wondering how to make your TDS payment online? Click here for overview of TDS, latest rates, due dates and find the complete procedure to pay the income tax online!<\/p>\n","protected":false},"author":45,"featured_media":7064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[8,1741],"tags":[1331,1327,1328,1326,1330,1329],"acf":[],"modified_by":"Neera Bhardwaj","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/02\/6-2.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7061"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=7061"}],"version-history":[{"count":4,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7061\/revisions"}],"predecessor-version":[{"id":8794,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7061\/revisions\/8794"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/7064"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=7061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=7061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=7061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}