In & Out of E-TDS Challan 280, 281,282, 26QB – I. Tax Dept.

E payment of Challan 280, 281,282,  – Income Tax Department

• TDS is the abbreviated form for Tax Deducted Source, controlled by the CBDT. TDS Challan is required to pay the TDS sum deducted to the Tax dept.
• You can use TDS Challan 280, TDS Challan 281, or 282 as needed. Let’s check the complete understanding of TDS Challan in detail like the various forms of TDS Challan and how to check the status of the TDS Challan etc.

What’s the TDS and TCS Challan?

• TDS Challan is a method used to deposit Tax Deducted Source (TDS) and Tax Collected at Source (TCS) to the Government.
• TDS-Challan was implemented in 2004 in order to reduce human error and promote online tax receipts, receipts,s, and refund transactions.
• In the case of Challan for TDS, the person or payer responsible for making specified payments, such as wage, interest, rent, commission, and the like, is responsible for deducting the specified percentage of the amount before paying it to his or her payee or employee.
• Any person making TDS payment claim 281 shall also be liable for the deposit of the TDS sum to the tax department.

Type of E-Tax Challan

Kind of TDS Challan: CBDT has specified six challans or forms to be filled and submitted by Assess while depositing income tax online payment.

Challan	Purpose
ITNS 280	TDS Challan 280 is specifically for depositing income tax like for making  depositing Income Tax, Wealth Tax, Corporation Tax
ITNS-281	TDS 281 Challan is specifically for TDS and TCS like for making depositing tax deducted at source  and tax collected at source
ITNS-282	TDS Challan 282 is for depositing gift tax, wealth tax, transaction or security tax, and similar other forms of indirect tax like for making payment of Gift Tax, Estate Duty, Expenditure Tax, other miscellaneous taxes
ITNS-26QB	For payment of Tax Deducted At Source on sale of property
ITNS-286	Payment under Income Tax Declaration Scheme, 2016
ITNS-287	Payment under PMGKY (Pradhan Mantri Garib Kalyan Yojana) Scheme, 2016

CHALLAN 280: FOR INCOME TAX, CORPORATION TAX PAYMENTS

• To pay advance tax, self-assessment tax, and regular assessment tax, Challan 280 is used by the Assesse. You have the choice of paying income tax via Online Challan 280.
• Previously you could pay tax offline at authorized Bank branches but this alternative has been scrapped by most of the banks. You should have to a net banking account for any banks to make an online tax for income tax, corporation tax payments.

ONLINE MAKING TAX PAYMENT VIA CHALLAN 280

• You can pay the due tax online by filling in the online way of Challan 280 and paying by your online bank site under the banking services. Go to the website https:/www.tin-nsdl.com to make online payments and press the online icon on the e-pay page button or pay taxes via an online link.
• TIN is the Income Tax Department’s new initiative to collect, process, monitor, and account for direct taxes by using information technology.

PROTECTIVE MEASURES WHILE FILING INCOME TAX CHALLAN 280 PAYMENT

• Quote your accurate Permanent account number along with your name and address used for the tax deposit on Challan.
• For each and every transaction, use a different Challan and fill in the correct code number corresponding to the particular payment form.
• Do not make errors when completing the respective Challan in the selection of Financial Year (FY) and Assessment Year(AY).
• Never use the single challan to make payments of multiple tax forms such as advance tax, tax on self-assessment, etc.

CHALLAN 281

Challan 281 : DEDUCTED FROM CORPORATE AND NON-CORPORATE TAX DEDUCTED AT SOURCE (TDS) FOR DEPOSITING TDS

The income tax department facilitates tax deducted at the source to be paid online by filling out Challan 281. Challan 281 is used by both non-corporate detectors and corporate for the payment of TDS under the head of income or TCS. For making TDS and TCS (Tax Collected at Source) payments, Challan 281 is used. The forms of payments covered by Challan 281 are as follows:

• TAX DEDUCTED AT SOURCE / TCS paid by the taxpayer
• TDS (TAX DEDUCTED AT SOURCE) / TCS Request against regular assessment
• Select the type of payment correctly from the following:
  • (100) Advance Tax
  • (102) Surtax
  • (106) Tax on Distributed Profit
  • (107) Tax on Distributed Income
  • (300) Self Assessment Tax
  • (400) Tax on Regular Assessment

PROTECTIVE MEASURES WHILE DEPOSITING THE CHALLAN 281 VIA ONLINE MODE

• The appropriate Ten digit Tax Deduction and Collection Account Number and name and address of the deductor are quoted on each challan used for tax deposit.
• Always Using a separate challan in various parts to deposit the deductible tax. For instance –, to pay contractors and subcontractors, use Challan 94C for TDS, and to pay rent, use Challan 94I for TDS.
• Identify the accurate code number for each payment type as specified.
• Do not make an error when filling challan in suggesting AY (Assessment Year) and FY (Financial Year)
• Each business division is expected to file only one TAN number with Challan. In case the deductor has a different TAN number for a specific business branch, he is recommended to file tax under one Tax Deduction and Collection Account Number (TAN) Number and surrender the other Tax Deduction and Collection Account Number (TAN) number

ONLINE COMPLIANCE DUE DATE UNDER TDS CHALLAN 281

TDS 281 Challan is issued when a taxpayer deposits TDS and TCS, for which they must comply with the timelines specified for depositing tax.

DEADLINE FOR DEPOSITING ONLINE TDS 281 CHALLAN:

• Online TDS Challan payments excluding property purchase –7^thof Next month.
• Online-TDS Challan for the property purchase –30^thof Next month.
• Online TDS Payment Challan 281 issued in March – 30^th April of AY.

            The interest of 1.5% is charged per month if TDS payment challan 281 is delayed

WHAT ARE THE TDS DEDUCTION BASIC REQUIREMENTS?

• Every taxpayer with TDS Challan shall be provided with the Tax Deduction and Collection Account Number.
• Upon filing form No 49B (also can find on the TIN NSDL website) with fees, you will obtain a Ten digit number quoted as Tax Deduction and Collection Account Number.
• Reference Ten Digit Tax Deduction and Collection Account Number for all correspondence with the IT department concerning Challan for TDS.
• Failure to mention Tax Deduction and Collection Account Number for TDS is subject to a penalty of Rs 10,000.

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