DUE DATE FOR DEPOSITING THE TDS? HOW TO DEPOSIT OR PAY TDS?

 

WHEN TDS IS NOT REQUIRED TO BE DEDUCTED ?

• The amount is paid to Reserve Bank of India, government.
• Interest paid or credited to Banking company, LIC, Insurance Company, NSC, KVP etc. 

DUE DATE FOR DEPOSITING THE TDS

• The Tax Deducted at Source must be deposited to the government by 7th of the subsequent month.
• TDS deducted in the month of June must be paid to the government by 7th July.
• However, the TDS deducted in the month of March can be deposited till 30th April. 

HOW TO DEPOSIT OR PAY TDS?

1.       Electronic mode: E-Payment is mandatory for

A.      All corporate assesses; and

B.      b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961  are applicable.

2.       Physical Mode: By furnishing the Challan 281 in the authorized bank branch 

NOTE:-

Deductor Tan Number is required at the time of payment.

There is no need of deductee pan number at time of payment of tds challan.

Nature of Payment like tds on rent, salaries, commission etc.& assessment year is required.