Income Tax Challan 281 Pdf : Challan can be a bill receipt, invoice or an official summons and TDS means Tax Deducted at Source, which is an official document. The Central Board of Indirect Taxes manages this directly. In this article, we will discuss more TDS challan.
Download the Income Tax Challan 281 PDF format here. TDS or Tax Deducted at Source is a mechanism introduced by the Government in which the person (deductor) before making the payment of specified nature (such as salary, rent, etc.) to the payee (deductee) shall deduct tax at specified percentage from such amount payable and deposit it to the Income Tax Department.
Background of Income Tax Challan 281 Pdf
In 2004, the manual process of collection of taxes was replaced by Online Tax Accounting System (OLTAS). It was introduced with an intention to minimize human intervention, thereby reducing errors and facilitating online transmission of details of tax collected, deposited, refunded etc. OLTAS issues a single copy of a Challan and enables taxpayers to track the status of their challans or e-challan deposited in banks online.
There are three types of Challans that are issued:
- Challan ITNS 280 – issued for depositing income tax (includes self-assessment tax, advance tax, tax on regular assessment)
- Challan ITNS 281 – issued for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS)
- Challan ITNS 282 – issued for depositing gift tax, wealth tax, Securities Transaction Tax (STT) and other direct taxes.
Compliance for Income Tax Challan 281 Pdf
Challan ITNS 281 is issued, when the taxpayer deposits TDS and TCS. Therefore, it has to comply with the timelines laid out for deducting and depositing tax.
Due dates for payment of TDS
- TDS deducted on payments (excluding the purchase of property): 7th of the subsequent month.
- TDS deducted on the purchase of property: 30th of the subsequent month.
- TDS deducted in the month of March: 30th April.
In case of delay in deposit of tax, an interest is levied at the rate of 1.5% per month or part of the month from the date of deduction.
Process of Filing Income Tax Challan 281 Pdf
There are two processes for filing Income Tax Challan 281 Pdf:
- Online process
- Offline process
Go to the tin-nsdl website and select Challan No./ ITNS 281. At the time of payment of taxes the following details have to be filled in Challan ITNS 281.
- Select the Deductees:Select the appropriate deductee i.e. on whose behalf the payment has been deducted. There are two options:
- 0020: Company deductees
- 0021: Non-company deductees
- Assessment Year (AY):The relevant AY for which the payment is being made. As an example, If the payment is made on 30th June 2017 (i.e. relating to FY 2017-18), the relevant AY will be 2018-19
- Tax Deduction Account Number (TAN):TAN is 10-digit alphanumeric number issued to the persons who are required to deduct or collect tax.
- Type of Payment:
- 200: should be selected if the TDS/ TCS is a regular transaction
- 400: should be selected if the payment is being made for a demand raised by the income tax authorities.
- Nature of Payment:The section under which TDS/TCS has been deducted has to be selected from the drop-down list.
- Details of Payment:Enter the income tax, surcharge and late filing fees (if applicable). also needs to be entered along with the date and bank branch.
Post-filling in all the details, click on submit to bank and you will be redirected to your bank’s portal to process the payment. Once the transaction is successfully processed, a challan counterfoil shall be displayed containing the CIN No., payment details, and bank name through which e-payment has been made.
For the offline process, the taxpayer can make the payment by personally visiting the bank and submitting a challan. A note has to be taken that the payment can be made via cheque or cash. On submission of the challan, bank will issue a counterfoil receipt back-stamped as a proof of submission.
Process to Check the status of Income Tax Challan 281 Pdf
- For the taxpayers to check the status of the Challan online, you can go to the tin-nsdl There are two modes to view the status:
- CIN based view
- TAN based view
- To view the status through the CIN based mode, enter the following details from your challan:
- BSR code
- Challan date
- Challan serial number
- To views the status through the TAN based mode, enter the following details from your challan:
- Challan date
Income Tax Challan 281 Pdf – FAQs
What is challan 281 for income tax?
Challan ITNS 281 – issued for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) Challan ITNS 282 – issued for depositing gift tax, wealth tax, Securities Transaction Tax (STT) and other direct taxes.
How can I download challan 281 from income tax site?
- Visit TIN NSDL website
- You will be redirected to the ‘Challan’ page. From here, you can download your required copy of TDS Challan.
What is TDS challan 280 and 281?
For the payment of advance tax, self-assessment tax, tax on regular assessment, surtax, tax on distributed profits of domestic company and tax on distributed income to unit holders.
What is challan 281 in Excel?
TDS Challan 281 is an excel based form used for making payment of Tax Deducted at Source (TDS). It is an excel file available on the official website of the Income Tax Department. The challan is used to deposit TDS with the government.