company TDS process step-by-step TDS payment

1. Prerequisites for Online TDS Payment

Before making a TDS (Tax Deducted at Source) payment online, ensure you have:
✅ Valid TAN (Tax Deduction and Collection Account Number)
✅ Bank account with net banking enabled
✅ Challan ITNS 281 form details
✅ Details of TDS amount, deductee PAN, and nature of payment

2. Step-by-Step Process for Online TDS Payment

Step 1: Visit the TIN-NSDL Portal

🔗 Go to the official website: https://www.tin-nsdl.com

Step 2: Select “e-Payment” Option

  • Click on “Services” > “e-Payment” > “Pay Taxes Online”

Step 3: Choose the Correct Challan (ITNS 281)

  • Select Challan No. ITNS 281 for TDS/TCS payments.

Step 4: Fill in TDS Payment Details

  • Assessment Year (e.g., 2024-25)
  • Type of Payment (TDS/TCS)
  • Nature of Payment (Salaries, Interest, Contract, etc.)
  • TAN of the Company
  • Mode of Payment (Company/ Deductor)
  • Bank Name (from which payment is made)

Step 5: Enter TDS Amount & Deductee Details

  • Total TDS Amount
  • PAN of Deductee (if applicable)
  • Address & Contact Details

Step 6: Verify & Submit Details

  • Double-check all details before submission.
  • Click “Submit” to generate a Challan Identification Number (CIN).

Step 7: Proceed to Net Banking Payment

  • You will be redirected to your bank’s net banking portal.
  • Log in and complete the payment.

Step 8: Download & Save Challan Receipt

  • After successful payment, download the Challan 281 receipt.
  • It contains CIN, Payment Date, and Amount for future reference.

3. Post-Payment Steps

✔ File TDS Returns (Form 24Q/26Q) using the CIN details.
✔ Keep the payment receipt for audit and compliance purposes.

4. Common Mistakes to Avoid

❌ Entering incorrect TAN/PAN details
❌ Selecting the wrong Assessment Year
❌ Not saving the payment confirmation receipt

5. FAQs on Online TDS Payment

Q1. Can I revise TDS payment details after submission?

No, corrections cannot be made after submission. Ensure accuracy before payment.

Q2. Is there a penalty for late TDS payment?

Yes, 1.5% interest per month applies for delayed payments.

Q3. How to check TDS payment status?

Visit TIN-NSDL or Income Tax e-Filing Portal and enter CIN details.

#TDSPayment #TaxCompliance #OnlineTaxPayment #CompanyTDS #TaxDeduction

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