TDS Payment Challan/Challan 281 is the challan for payment of TDS by companies as well as Individuals. TDS is the mechanism introduced by the government in which tax is deducted at source in the specified cases while making payment by the deductor at a specified rate and then it is payable to the Income Tax Department.
Contents
Due date for filing TDS Payment Challan
The due date for filing TDS payment challan after deducting the TDS is:
In case of Non-Government Assessee
- Tax for the month of March – 30th April
- Tax for any other month – 7th Day of the next month
In case of Government Assessee
- In case the tax has to be deposited without challan – Same Day
- In case the tax has to be deposited with challan – 7th Day of the next month
Process for filing TDS Payment Challan
Process to file Challan 281 Online
1. Open the e tax payment system website and select then Challan 281.
2. Fill in the following details:
- Tax Deduction Account Number
- Assessment Year
- Full Name will be auto populated as per Income Tax Department database.
- Now, fill in your address, email ID, Phone Number Etc.
3. After filling the above details, Select the Type of Payment, Nature of the payment and pay through Internet Banking or Debit card.
4. After the payment is successful, Challan counterfoil will be displayed.
Process to file Challan 281 Offline
1. Download the format of TDS Challan 281
2. Fill in the following details:
- TAN Number
- Assessment Year
- Full Name
- Now fill in the type of payment and the other details of payment. It may be noted that while filling in the type of payment in case of Offline Challan 281, you have to enter the code of the payment also which are later discussed in this article.
3. Take the printout of the challan 281.
4. After filling the details, the challan has to be submitted to the bank along with the payment of the Tax.
5. After submission of the challan with the bank, a receipt will be issued by the bank as a proof. It will have the Challan Identification Number.
Specimen of the Offline Challan 281
Details of the Nature of Payment
The details of the nature of payment is one of the most important aspects of filing Challan 281. In the case of online payment, it will be displayed by clicking on the option of “Nature of Payment” and in the case of offline payment of Challan 281, the details of the Nature of Payment has to be filled including the Code Number.
Section | Nature of Payment | Code |
---|---|---|
192 | Payment to Govt. Employees other than Union Government Employees | 92A |
192 | Payment of Employees other than Govt. Employees | 92B |
193 | Interest on securities | 193 |
194 | Dividend | 194 |
194A | Interest other than interest on securities | 94A |
194B | Winnings from lotteries and crossword puzzles | 94B |
194BB | Winnings from horse race | 4BB |
194C | Payment of contractors and sub-contractors | 94C |
194D | Insurance Commission | 94D |
194E | Payments to non-resident Sportsmen/Sport Associations | 94E |
194EE | Payments in respect of Deposits under National Savings Schemes | 4EE |
194F | Payments on account of Re-purchase of Units by Mutual Funds or UTI | 94F |
194G | Commission, prize etc., on sale of Lottery tickets | 94G |
194H | Commission or Brokerage | 94H |
194I | Rent | 94I |
194J | Fees for Professional or Technical Services | 94J |
194K | Income payable to a resident assessee in respect of Units of a specified Mutual Fund or of the Units of the UTI | 94K |
194LA | Payment of Compensation on acquisition of certain immovable property | 94L |
195 | Other sums payable to a non-resident | 195 |
196A | Income in respect of units of Non-Residents | 96A |
196B | Payments in respect of Units to an Offshore Fund | 96B |
196C | Income from foreign Currency Bonds or shares of Indian Company payable to Non-Resident | 96C |
196D | Income of foreign institutional investors from securities | 96D |
206C | Collection at source from Alcoholic Liquor for Human Consumption | 6CA |
206C | Collection at source from Timber obtained under Forest lease | 6CB |
206C | Collection at source from Timber obtained by any Mode other than a Forest Lease | 6CC |
206C | Collection at source from any other Forest Produce (not being Tendu Leaves) | 6CD |
206C | Collection at source from Scrap | 6CE |
206C | Collection at source from contractors or licensee or lease relating to Parking lots | 6CF |
206C | Collection at source from contractors or licensee or lease relating to toll Plaza | 6CG |
206C | Collection at source from contractors or licensee or lease relating to mine or quarry | 6CH |
206C | Collection at source from tendu leaves | 6CI |
Penalty
If TDS has been deducted by the deductor but it has not been paid to the Income Tax Department within the specified time then interest at the rate of 1.5% per month on the TDS amount has to be paid.
In case you are confused about TDS Return Filing as a deductor, feel free to consult the experts at LegalRaasta. You can get comprehensive assistance with our TDS Return Filing Software which supports TDS on Salary payments Form24Q, Rent, Interest, Commission and other Non-salary transactions (Form 26Q), NRI (Form 27Q) and TCS Form27EQ.
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