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e-Filing of Income Tax Return or Forms and other value added services & Intimation, Rectification, Refund and other Income Tax Processing Related Queries 1800 103 0025 (or) 1800 419 0025
e-Payment of Taxes. Direct tax payments facility have been migrated from OLTAS 'e-payment: Pay Taxes Online' to e-Pay Tax facility of E-Filing portal. Users are advised to navigate to 'e-Pay Tax' portal of Income Tax Department on https://www.incometax.gov.in/ to make direct tax payments.
People also ask
What is a TDS deduction?
How to pay TDs online?
What is TDs under Income Tax Act?
How much interest is payable on TDs?
- What Is Tds? – TDS Meaning and Full Form
- Example of TDS
- When Should TDS Be deducted and by Whom?
- What Is The Due Date For Depositing The TDS to The Government?
- How to Deposit Tds?
- How and When to File TDS Returns?
- What Is A TDS Certificate?
- TDS Credits in Form 26As
- Types of TDS
- SMS Alerts For Higher Transparency
TDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments. Usually, the person receiving income is liable to pay income tax. But the government with the help of Tax Deducted at Source provisio...
Shine Pvt Ltd makes a payment for office rent of Rs 80,000 per month to the owner of the property. TDS is required to be deducted at 10%. Shine Pvt ltd must deduct TDS of Rs 8000 and pay the balance of Rs 72,000 to the owner of the property. Thus, the recipient of income i.e. the owner of the property in the above case receives the net amount of Rs...
Any person making specified payments mentioned under the Income Tax Act is required to deduct TDS at the time of making such specified payment. But no TDS has to be deducted if the person making the payment is an individual or HUF whose sales from business or profession doesn’t exceed Rs.1 crore or Rs.50 lakhs, respectively. However, in case of ren...
The Tax Deducted at Source must be deposited to the government by the 7th of the subsequent month. For instance: TDS deducted in the month of June must be paid to the government by the 7th of July. However, the TDS deducted in the month of March can be deposited till 30th April. For TDS deducted on purchase of property, the TDS payment due dateis 3...
Tax Deducted at Source has to be deposited via Income Tax Portal based on the TAN login. Direct tax payments facility has been migrated from OLTAS 'e-payment: Pay Taxes Online' to e-Pay Tax facility of e-Filing portal. You have to click on 'e-Pay Tax' option of Income Tax Department on https://www.incometax.gov.in/to make direct tax payments includ...
Filing Tax Deducted at Source returns is mandatory for all the persons who have deducted TDS. TDS return is to be submitted quarterly and various details need to be furnished like TAN, amount of TDS deducted, type of payment, PAN of deductee, etc. Also, different forms are prescribed for filing returns depending upon the purpose of the deduction of...
Form 16, Form 16A, Form 16B and Form 16C are all TDS certificates. TDS certificates have to be issued by a person deducting TDS to the assessee from whose income TDS was deducted while making payment. For instance, banks issue Form 16A to the depositor when TDS is deducted on interest from fixed deposits. Form 16 is issued by the employer to the em...
It is important to understand how TDS is linked to your PAN. TDS deductions are linked to PAN numbers for both the deductor and deductee. If TDS has been deducted from any of your income you must go through the Tax Credit Form 26AS. This form is a consolidated tax statement that is available to all PAN holders. Since all TDS is linked to your PAN, ...
Here are some of the income sources that qualify for TDS: 1. Salary 2. Payments to Contractor 3. Commission payments 4. Sale of House 5. Insurance Commission 6. Interest on securities 7. Interest other than interest on securities 8. Rent Payment 9. Professional fees 10. Online Gaming 11. Winning from games like a lottery, crossword puzzle, card, et...
The income tax department has been sending SMS to taxpayers from VK-ITDEFL that mentions the amount of tax deducted at source (TDS) against the taxpayer's PAN (Permanent Account Number). The SMS alert will let you know the TDS credited to your income from salary, interest, etc., every quarter. The amount of TDS would be accumulated in your Form 26A...
Apr 23, 2024 · TDS Return & Payment Due Date For FY 2024-25 (AY 2025-26): Know about time limit to deposit TDS and file TDS return. Also know interest and penalty charges for late deposit or filing of TDS return.
Jan 11, 2024 · |. 11 min read. Here is a guide for making TDS Payment online: TDS or Tax Deduction at Source is a system where tax or TDS gets deducted and TDS payments happens online. The tax deduction is at the time of making some payments like rent, interest, commission etc.
- Is TAN mandatory for making TDS payments online?As per section 203A of the Income Tax Act, 1961 it is compulsory to quote Tax Deduction Account Number (TAN) on all TDS returns including all TDS p...
- What if I quoted the wrong TAN unintentionally while making TDS payment?Clerical errors while making payments are possible, and hence the taxation department allows for corrections to be made to the challan. The consequ...
- Can I view the TDS paid tax challans online?The tax department offers an online facility to view and enquire about challan status. By visiting the official portal of TIN-NSDL, taxpayers can m...
- How can I create a Nil TDS challan?To create a NIL TDS challan, the deductor must fill up all amount columns as ‘Zero’ and leave the field containing Cheque/DD number as blank.
- By when should I deposit the TDS payment online?Tax deducted at source must be deposited within the 7th of the subsequent month of deducting the tax. The only exception being TDS deducted on rent...
To pay TDS, follow step 1 to 4 of this para and then refer to steps 5-10 of para 3.3. Step 1: Log in to the e-Filing portal with your User ID and Password. Step 2: On the Dashboard, click e-File > e-Pay Tax. You will be navigated to the e-Pay Tax. Step 3: On the e-Pay Tax page, click the New Payment option to initiate the online tax payment.
Feb 23, 2024 · Updated on: 23 Feb, 2024 12:08 PM. When it comes to tax deduction at source, there are a lot of confusions. The first question is, what exactly is TDS? And when we understand that, the next question which pops up is, how many times do I have to pay tax? Why is TDS deducted from my salary? When is the TDS deducted?
