Presentation TDS
Presentation TDS
o b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable.
2) Physical Mode:
Where tax is deducted/collected by government office, it can remit tax to the Central Government without production of income-
tax challan. In such case, the Pay and Accounts Officer or the Treasury Officer or the Cheque Drawing and Disbursing Officer or
any other person by whatever name called to whom the deductor reports the tax so deducted and who is responsible for
crediting such sum to the credit of the Central Government, shall submit a statement in Form No. 24G.to NSDL with prescribed
time-limit.
Pay Tax Online
Step-1
• open http://tdscpc.gov.in/
and make login as usual.
You will find a link with
words “Register at e-filing
site” on left side panel of
Quick Links. Click on that.
Step-2
• Now go to
http://incometaxindiaefiling.gov.in/
and make usual login by PAN,
D.O.B. and password and put
curser on “worklist” and click on
“For your action”. Screen will
appear with all details like PAN,
Name, Mobile number, Email ID
etc. Go through it carefully and if
there is any mistake at data entry
level then “reject” the same,
otherwise click on “approve”.
Step-6
Step-7
Eligibility criteria for TDS returns
• An individual making a transaction under the Income Tax Act needs to deduct tax at the source
and deposit the same within an allotted time. Some payments for which one needs to file TDS
return are as follows:
• Salary payments
• Income earned by winning lotteries, puzzles, etc.
• Income generated from securities
• Accruing income from competing in horse races and winning
• Insurance commission
• Rent payment
• Interest earnings
• Sale/purchase of immovable property
• Any payments concerning National Saving Scheme and other schemes
Advantages of filing TDS returns
• Decrease in tax burden- Filing TDS returns ensure reduction in lump-sum tax payment at
year-end by dividing the amount over several months. This will, in turn, reduce a
taxpayer’s burden.
• Reduction in tax evasion- The Income Tax Department collects the TDS amount
submitted by the deductor. This amount includes a portion of the deductee’s tax during
submission. Therefore, by filing for TDS, one can avoid tax evasion.
• Maintenance of income flow- TDS allows regular income flow to the government.
• Therefore, it is advisable to learn how to file a TDS return without much ado and yield
maximum benefits from the process.
•
Due dates of filing a TDS return
• Apart from knowing how to file a return for TDS, an individual must
be thorough with its due date. Here is a table showing the due dates for
the fiscal year 2021-2022.