How to Payment TDS Online TDS Stands for Tax Deducted at Source. As per the Income Tax Act 1961, India’s Government has made it mandatory th...
How to Payment TDS Online
TDS Stands for Tax Deducted at Source. As per the Income Tax Act 1961, India’s Government has made it mandatory that every person or company pay a certain amount of Tax at a specified threshold limit. The deducting Tax at the source is called a deductor, and the person or company who is receiving the payment after the deduction of Tax at the source is called the deductee. The Tax is deducted on payments such as Salaries, Consultation Fees, Rent, Professional fees, etc.
The employees should make the Online TDS Payments on the official portal onlineservices.tin.egov-nsdl.com
Features of TDS Payment Process
Let us see the features of the Tax Deduction at Sources, as shown below.
- Individuals/Companies can make the TDS Online Payments on the official website of NSDL or the income tax department’s e-payment portal.
- The online TDS Payments saves the time and energy of the candidates.
- The candidates should pay the TDS by the 7th of next month. It means the candidates should pay TDS for April must be paid by 7th May and so on.
- One can check the TDS payment status online via the e-portal of the Central Processing Cell of TDS.
- Few examples of TDS payment are; commission, royalty, interest from securities, dividends, professional fees, etc.
Let us see the online procedure to make the online payments on the official portal. This procedure is for the individuals/companies who want to make the TDS Payments.
- Visit the Official Portal of TDS Payments Online.
- It takes the online user to the Home Page.
- Click on the Proceed Button under TDS/TCS Section on the Home Page.
- Click on the Options: Tax Deducted/Collected at Source From (0020) Company Deductees/ (0020) Company Deductees.
- Click on the Type of Payment : (200) TDS/TCS Payable by Taxpayer/(400) TDS/TCS Regular Assessment.
- Select the Nature of Payment.
- Select the Mode of Payment: Net Banking or Debit Payment.
- Enter the Tax Deduction Account Number and Select the Assessment Year.
- Enter the Flat/Door/Block No., Premises/Building/Village, Road/Street/Lane, Area/Locality, City/District, State, Pin Code, Email ID, and Mobile Number.
- Enter the Captcha Code.
- Verify all the details and click on the Proceed Button.
- It then displays the heading: Please Confirm your Information before proceeding.
- Please verify all the details which were filled at the time of the Registration Process.
- Scroll Down the Page, Verify all the Details and Read the Declaration Statement.
- Click on I Agree and click on Submit to the bank.
- Select the Payment Option and Click on the Submit Button.
- Login to the Personal Banking and Make the payment online.
- It displays the alert: Your Payment was Successful.
- The applicants can also click on the Download in PDF Link and download the PDF.
- Click on the Logout Button after downloading the receipt.
Procedure to Check TDS Refund Status Online
- In some cases, there is a chance of the excess deduction of amount while making the TDS Payment Online.
- In these cases, the applicants can apply for the TDS Refund. However, there is no specific process to apply for the refund. Moreover, this can be done while filing income tax returns.
- Let us see the procedure to check the Refund Status Online.
- Read the instructions carefully and Enter the PAN Number, Select the Assessment Year, and Enter the Captcha Code.
- Click on the Proceed Button.
How can I get a TDS refund?
- To get a TDS refund, the applicant must first declare it in the IT return, following which the Income Tax department will automatically credit it in your bank account.
Is TDS and Income Tax the same?
- The fundamental difference between TDS and income tax is that TDS is levied at the source where income is generated under specified cases like salary, interest from the bank, rent, professional fee, etc. At the same time, income tax is levied on assessee whose income is above the tax limit in a particular period.
What are the modes in which an individual can make the TDS Payments Online?
- The individuals can make the TDS Payments online using Personal Banking or through the Debit Card.
Do I need to upload any documents online while making the Tax Deducted at Source Payments?
- No, the applicants are not required to upload any documents while making the TDS Payments Online.