19 March 2011
Thanks for the reply. I'd like to know if we have to make separate cheque for each TDS challan or make a single cheque for all the category like contract, rent etc.
19 March 2011
For every type of TDS deposit, separate challan has to be deposited because the challan will require the nature of payment.so only one nature at a time shall be filled in.
also remeber that even in case of payment of same nature to corporate & non corporate payee shall require two different challans.
* Use challan type 281 for deposit of TDS/TCS amount.
* Deductor should quote correct TAN, full name, address and current A.Y. on each challan.
* Deductor should use separate challan for different nature of payments quoting correct nature of payment code and also for different type of deductee.
* Ensure that the bank has mentioned CIN (Challan Identification Number) on the counter foil. Verify CIN details uploaded by the bank to TIN i.e., 5 digit challan serial no., BSR code of 7 digit and date.
* Insist on computerized receipts from the bank
* E- payment of TDS is recommended. (As in case of lost challan Duplicate copy can be easily printed from bank website by loging in with your ID and password)
CAclubindia
