Friday, March 5, 2010

e-Payment of tds/tcs and submit return in Time

(Deposit your Income Tax,TDS or TCS in Time)
(Avoid from Interest and Penalty)


All the deductions/collections of tax (Income tax) made in the month February 2010 on account of tax deduction at source or tax collected at source are due for payment upto 7th March, 2010.

Meaning of T.D.S.,T.C.S., E-Payments
T.D.S. =Tax Deduction at source
T.C.S. = Tax Collected at source
e-payments = Electronically Payments

Method of Payments

There are two methods for making payment of income tax, tds or tcs etc. One is manually and second is electronically. Electronically payment is most reliable in comparison with manually payment. It is easy, time saving and safe. There is no need to fill manually challan no. 280, 281 and 282 etc,no need to visit any bank again and again and payment of challan status can not be checked through your internet banking account.

However you can download :-
1) Challan Number 281 in excel/pdf format (Click Here) ,
2) Challan Number 280 in pdf format (Click Here)

How to Fill Challan Number 280 or 281
Step by step detail for filling challan Number 281 is given as under :-
  • Tick 0020 or 0021 for Deductees. If deductee's name are ending with Pvt Limited or LImited word then tick for codes 0020 else tick for 0021.
  • Enter Assessment Year, Just next for Financial Year in which you have deducted/Collected tax. For example if you have deducted/collected tax in the financial year 2009-2010 the assessment year will be 2010-2011
  • Now enter your Tan Number containing 10 digits CCCC99999C. First four digit of your Tan Number is alphabetic and next five digits are numberic and last digit is alpha.
  • Enter your complete address here having Telephone and Pin Code No's.
  • Now type of Payment i.e. 94C, 94h or 94J etc.
  • Now tick either code 200 or 400. (200 code is for Normal Cases and 400 code will be used when demand has been raised by Income Tax Department.)
  • Enter amount of Income Tax, Surcharge, Education Cess, Interest and Penalty.
  • Now enter amount in words.
  • Next coloumn is for Cash or Cheque Detail like as cheque numer and cheque date.
  • Sign with rubber stamp.
  • Counter foil is same as entered in above for your record.

How to Make e-payments
Step by step detail for making e-payment is given as under :-

Basic Requirements:- Internet connection & Internet Banking alongwith Transaction User id and Password.

e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks.

Select applicable challan


After selecting your appropriate form, enter data as already discussed in filling manually challan's. Now press Proceed Button. There will be your Name as per Income Tax Department. It is easiest way to verify the name of Pan/Tan with the help of Pan/Tan Number. If your name does not match with the name available with the income tax department then you should leave this form and check your pan/tax number carefully. It is dead sure that you have entered wrong pan/tan in challan number.

If your Name matches with the name available with the income tax department then you should continue your data entry. Then enter your Login id and Password to open the bank site and then Amount of Tax/TDS/TCS.

Under some banking procedure , they have separate transaction password and login password.

to Know the complete procedure of ETDS/ETCS return & getting free software click here

to Calculate your Income Tax On line (Click Here)

to Calculate exemption of H.R.A. on line (Click Here)

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