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How to do TDS online payment easily

May 04, 2020 Alankit

Tax Deduction Source (TDS) refers to a system wherein the income tax is deducted against the payments like interest, rent, commission, etc. Individuals making payment specified payments as such are responsible for TDS deduction and for paying the balance amount to the individual authorized to receive such payment.

The TDS deduction should be deposited to the Government within the due dates as declared by the individual authorized to deduct the TDS. To ensure convenience and hassle-free payment process, an online facility has been enabled by the Government to make TDS online payment. Below is the step-by-step guide to make online TDS payment:

How to do TDS online payment easily

Tax Deduction Source (TDS) refers to a system wherein the income tax is deducted against the payments like interest, rent, commission, etc. Individuals making payment specified payments as such are responsible for TDS deduction and for paying the balance amount to the individual authorized to receive such payment.

The TDS deduction should be deposited to the Government within the due dates as declared by the individual authorized to deduct the TDS. To ensure convenience and hassle-free TDS paymentprocess, an online facility has been enabled by the Government to make TDS online payment.

Process to file TDS Returns online

A team of experienced professionals at Alankit provides affordable solutions to individuals and businesses fore-filing of TDS returns. Below-listed are the various forms used to file TDS returns which vary depending on the purpose of dedication:

  • Form 24Q for TDS on Salary
  • Form 27Q for TDS in cases where deductee is non-resident, foreign company
  • Form 26 QB for TDS on payments made for the transfer of immovable property
  • Form 26Q for TDS in other cases

The procedure to file TDS returns using the online facility includes:

  • Adding the deductor(s)
  • Adding and verifying Challan payments
  • Mentioning all employees/deductees
  • Match the challans with the deductees
  • Verifying returns and generating the File Validation Utility (FVU)

Once you have submitted the returns, you will be asked to confirm the details to ensure accuracy, and then a provisional token/receipt will be issued. The provisional receipt or the token serves as an acknowledgement in order to prove that the returns have been filed successfully.

Filing TDS returns online with the use of advanced technology has become extremely simplified with convenient & hassle-free TDS payment processes. It helps the deductor to make e-payment of TDS online and get acknowledgement of the same immediately. Also, there is a facility to download the copies of challan acknowledgement & keep safe with you for future reference.

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