TDS Challan – 280, 281 & 282 : Here's Everything You Need to Know

TDS Challan – 280, 281 & 282 : Here's Everything You Need to Know

TDS stands for Tax Deducted at Source, which is administered by the Central Board of Indirect Taxes. The TDS Challan must be used to deposit the TDS amount deducted with the IRS. TDS Challan 280, TDS Challan 281 or TDS Challan 282 might be used depending on your needs. Let's look at what a TDS challan is, the different sorts of TDS challans, and how to check the status of a TDS challan.

What is a TDS Challan, and how does it work?

  • A TDS Challan is a document that is used to deposit Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) payments to the government.
  • TDS Challans were established in 2004 to reduce human error and make online tax deposit, collection, and TDS refund transactions easier.
  • A Challan for TDS is a document that requires an individual or payer responsible for making certain payments, such as salary, interest, rent, commission, and similar items, to deduct a certain percentage of the amount before sending it to the payee or employee.
  • Every person who submits TDS payment challan 281 is also responsible for submitting the TDS challan money with the IRS.

Online TDS Challan 281 Compliance

When a taxpayer submits TDS and TCS, a TDS 281 Challan is issued, and they must adhere to the deadlines for submitting tax.

The TDS 281 Challan must be deposited by the following date :

  • TDS Challan for payments other than property acquisition - 7th of each month
  • TDS Challan for property acquisition – on the 30th of each month.
  • TDS Payment Challan 281 for the months of March and April.

If TDS payment challan 281 is not made on time, a monthly interest rate of 1.5 percent is levied.

Single Copy TDS Challans

Single-Copy TDS Challans are available in a variety of formats.

In 2004, three new single-copy TDS challans were created to make the procedure easier :

  • ITNS 280 single copy TDS challan — covers income tax, wealth tax, and corporate tax payments.
  • ITNS 281 single copy TDS challan — contains TDS deposition from both corporations and non-corporations.
  • TDS challan no. ITNS 282 (single copy) - contains payment of estate duty, spending tax, gift tax, and other miscellaneous taxes.
  • TDS Challan no. ITNS 283 (single copy) – contains payments for Fringe Benefits Tax and Banking Cash Transaction Tax.
  • TDS Challan no. ITNS 286 (single copy) – contains payments made under the declaration of income.
  • ITNS 287 single copy TDS Challan - contains payments made under the Pradhan Mantri Garib Kalyan Yojana (PMGKY).

Every individual receives a duly stamped Challan Identification Number (CIN) as an acknowledgment after submitting their TDS challan.

How can I get a hold of a TDS Challan?

  • Go to the TIN NSDL's website.
  • Select OTLAS from the 'Services' column
  • The OTLAS-Challan Status Inquiry Page will be redirected to you. Click on the ‘Download’ button.
  • You will be taken to the page titled 'Challan.' You may get the needed copy of TDS Challan from this page.

What is the procedure for checking the status of a TDS Challan?

  • Go to the TIN NSDL's website.
  • Select OTLAS from the 'Services' column
  • The OTLAS-Challan Status Inquiry Page will be redirected to you. There are two sections: one for the taxpayer and one for the bank.
  • As a taxpayer, you have the option of checking the status of your TDS Challan using either your CIN or your TAN.

What is the procedure for checking the status of a TDS Challan?

You must input data from the counterfoil received upon payment towards Challan 281 online when you visit the CIN-based TDS Challan status enquiry page. The BSR code for your collecting branch, the challan 281 tender date, the TDS challan serial number, and the amount paid toward the TDS challan are all listed on the CIN stamp.

You can see the following information :

  • Branch code of the BSR
  • The date of the deposit
  • Serial number of the TDS Challan
  • A description of the major head code
  • PAN/TAN information
  • Your name or the taxpayer's name
  • TIN's date of receipt
  • Verification of the entered amount

After filling out the appropriate information on the CIN-based TDS Challan status enquiry page, click view to see all of your reports.

TDS Challan Status Enquiry Using TAN

To find out the specifics, you must first access the TAN-based TDS Challan status enquiry page and fill in the needed information.

  • Type your TAN number in capital letters (e.g. MUMM11111A).
  • Enter the TDS Challan deposit date or period for which you'd want to check the status.
  • Once you've completed all of the fields, you may examine or download the status of your TDS Challan.

Things to Keep in Mind When Downloading TDS Challan Information :

  • After selecting the download option, a text file with details for the supplied TAN and its time will be accessible.
  • This file may be used to double-check TDS challans mentioned in quarterly e-TDS/TCS statements.
  • Import this file, together with the quarterly statement file, into FVU – File Validation Utility – to validate TDS Challan data.

How Do I Make an Online Payment for TDS Challan 281?

  • Go to the TIN NSDL's website.
  • Choose a single-copy challan that is suitable to your situation (most individuals use TDS 281 Challan).
  • Fill up the blanks with accurate information.
  • In the confirmation box, your complete name or the taxpayer's name will be shown according to the ITD PAN/TAN master (after PAN/TAN validation).
  • You will be sent to the net-banking site after confirmation.
  • Enter payment information after logging up with your bank's user ID and password.
  • TDS Challan counterfoil with CIN and bank information will show after successful payment.
  • As confirmation of your successful payment, download the CIN counterfoil.

Disclaimer :

*Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time’

The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

Suggested Plans

Bharti AXA Life Wealth Pro

  • An Individual Linked life cover with Insurance cum Savings Plan.
  • Choose a Variant: The plan offers you two variants to choose from a) Growth Variant b) Legacy variant
  • Grow your wealth further with Wealth booster
  • Multiple Investment Strategies to suit your investment needs
  • Tax benefits

Bharti AXA Life Guaranteed Wealth Pro

  • A non-linked, non-participating individual savings life insurance plan
  • Flexibility to choose the payout structure
  • Multiple income options
  • Option to receive tax free income beginning from the second policy year itself
  • Option to get lifelong income along with life cover till 100 years of age

Bharti AXA Life Flexi Term Pro

  • A Non-linked, Individual, Non-participating Pure Risk Premium Life Insurance policy
  • The plan offers two options: Without Return of Premium and With Return of Premium
  • Under the Without Return of Premium variant, you have the option between Single Life cover or Joint Life Cover i.e., cover for your spouse under the same policy.
  • Flexibility in policy and premium payment terms