How to Pay TDS Online? || TDS Challan Payment 281 || HR Tutorials India || TDS Online Payment || What is HR? Watch the video till the end to find out the full details. Stay connected to "HR Tutorials India" for more interesting videos.
What is TDS?
TDS stands for “Tax Deduction at Source”. The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.
How to Pay TDS?
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. The person making such specified payments is responsible for deducting the TDS and making TDS payment and paying the balance amount to the person entitled to receive such payment.
Process to Pay TDS?
The TDS amount deducted must be deposited to the government within the due dates i.e., on or before 7th of the following month, specified by the person deducting the TDS. Example: TDS deducted in April month, should be paid on or before 7th of May.
The procedure to make TDS payment online is as follows:
Step by Step Process to Pay TDS?
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