TDS/TCS Tax Challan Form 281 PDF

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TDS/TCS Tax Challan Form PDF Free Download

TDS/TCS Tax Challan Form

Background of Challan ITNS 281

In 2004, the manual process of collection of taxes was replaced by Online Tax Accounting System (OLTAS). It was introduced with the 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 Challan ITNS 281

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 the deposit of tax, interest is levied at the rate of 1.5% per month or part of the month from the date of deduction.

Language English
No. of Pages2
PDF Size0.07 MB

TDS/TCS Tax Challan Form PDF Free Download

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