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 a credit of the amount so deducted on the basis of a Form for TDS certificate issued by the deductor. This article will guide you on how to make Online TDS payments.
TDS means the Tax deducted at source on the receipt of money. TDS payment is to be made on or before the 7th working day of next month. Pay your TDS with Ebizfiling.
Note: After depositing the TDS with the Income Tax Department, the deductor is required to issue a TDS Certificate to the person on behalf of whom the tax payment was made.
The TDS Certificate or Form 16 / Form 16A (as applicable) should be issued on an annual or quarterly basis.
Source: Income-tax Department website.
Know: TDS rate chart for FY 2020-21
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