‘TDS/TCS Tax Challan Form’ PDF Quick download link is given at the bottom of this article. You can see the PDF demo, size of the PDF, page numbers, and direct download Free PDF of ‘TDS/TCS Tax Challan Form’ using the download button.
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 Pages | 2 |
| PDF Size | 0.07 MB |
| Category | Government |
| Source/Credits | – |
TDS/TCS Tax Challan Form PDF Free Download