TDS CHALLAN : PAYMENT PROCEDURE FOR TDS CHALLAN STATUS

TDS CHALLAN STATUS: PAYMENT PROCEDURE FOR TDS CHALLAN STATUS

TDS Challan Status

Additionally, TDS (Tax deducts at source) is an indirect way of tax collections from the government to have a continuous flow of income revenue to run the country. TDS Challan Status acts like proof of payment of your TDS. During financial matters like salary, lotteries, interests from banks, rent payments, etc a small fraction amount deducted, known as a Tax deduction. It works as pay as you earn pattern. This form of tax collection is done according to the Income Tax Act, 1961.

Furthermore, TDS decides based on the threshold limit of the taxpayer. Tax is deducted every month in equal installments. In case, if the employee has changed several jobs, then the tax deduction from the annual income for the following fiscal year. Tax is not deducted when a transaction makes to the Reserve Bank of India(RBI) or the government of India. If you want to check your OLTAS challan status then it is displayed on the official website.

TDS challan online TDS Challan status

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Payment Procedure For TDS Challan :

furthermore, The procedure for payment of your TDS Challan cannot occur without a valid TAN number. First, generate your 10 digit alphanumeric number from the Income-tax department and follow some simple steps for successfully paying your TDS amount online.

  1. Get into the official site for payment of your TDS by simply clicking on the following link onlineservices.tin.nsdl.com
  2. then, Insert your TDS Challan number for filling the ITNS 281 form for TDS payment.
  3. After that, Fill in your TAN Number in the desired box (Note; The TAN number needs to be valid to reach the next process of E-filing your TDS. Please check it!)
  4. Then, Fill in the necessary details as asked on the page for payment of your TDS payment.
  5. After you click on ‘Submit’, a confirmation message will display which may take you to the link of net banking.
  6. fill in your User-ID and password.
  7. After the successful payment of your TDS amount, a TDS Challan counterfoil consisting a Challan Identity Number (CIN) shall be flashed on your monitor.
  8. The deductee may also verify the status of the TDS Challan by simply clicking on the ‘Challan Status Inquiry’ on the NDSL-TIN website after 10 days of payment of your TDS.

Merits for paying TDS on time:

Tax may sound like tension, but if paid on time responsibly by every person it becomes burden-free. Every month a fixed amount deducts from our salaries for a whole year, with this a uniformity is maintained. Also, we are aware of our money flow so that we don’t mess up paying more or less at the end of the year. TDS helps in tax evasion and is a good source of revenue for the development of the country.

TDS Challan Status

If the taxpayer fails to pay on time or after the due date, an interest of 1.5% will be charged monthly. Earlier, the interest was about 1% but increases so that people maintain regularity in payment of TDS. The above interest needs to pay from the date at which the TDS  has deducted not from the date the TDS was due. Don’t get late!

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Conclusion of TDS Challan Status

The Income-tax department has levied this TDS Challan on every citizen of India. This is done for the betterment of its citizen and the country. Every responsible citizen needs to pay their TDS Taxes on time. challanstatus.co.in sharing many of challan soon like challan 281, Traffic challan and more. All corporate assesses along with other assesses liable for the Tax Audit under Section 44AB to mark the dates for successful TDS payment to the Income-tax department. Be responsible with your TDS payment!

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