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Challan ITNS 281 is a form for paying the taxes that are deducted or collected at the source. You can download the challan along with comprehensive instructions from the income tax website. Moreover, for the convenient deposit of TDS on various income heads or TCS, both companies (company deductees) and other deductees (non-company deductees) should utilize the Excel-based auto Challan ITNS 281 provided.
The ITNS 281 Challan contains the following types of payments:
(a) Tax Deducted at Source (TDS) / Tax Collected at Source (TCS) payable by the taxpayer
(b) TDS/TCS Regular Assessment Demand
To ensure proper categorization, it's essential to use a separate challan for each payment type, marked by ticking the appropriate box within the challan.
Furthermore, accurately input the relevant code indicating the nature of the payment. Ensure the correct submission of details such as TAN, Assessment Year, Amount, and Cheque details (if not paying by cash).
Upon depositing the challan at the bank, verify that the token contains the seven-digit BSR Code of the bank branch, the date of deposit, and the five-digit challan serial number.
Visit the official website of Central Board of Direct Taxes (CBDT) -
https://incometaxindia.gov.in/pages/downloads/challans.aspx
Click on the PDF option next to the type of challan you want to download from this page. There are different types of challan available in PDF format and Fillable Form.
The due date for submitting TDS Challan 281 is typically the 7th of the following month, in which the tax is deducted. However, it is advisable to refer to the latest notifications issued by the Income Tax Department for any changes in the due date.
TDS Challan 281 can be paid either online through net banking or offline by visiting authorized banks. Online modes generally include NEFT, RTGS, or through the government's official website.
No, it is not mandatory to submit a hard copy of TDS Challan 281 to the income tax department. However, it is important to keep a copy of the challan for future reference or in case of any discrepancies.
