Mode of payment of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2015 Respected Sir/Madam

Kindly guild me about the mode of payment of TDS for corporate deductore.

also give me any rule no. or circular as supportive.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 February 2015 Required to pay Tax Electronically. See link given below:

https://www.tin-nsdl.com/download/notification/CircularNo-5-21072008.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2015 Thank you Sir,

I already have this notification. In notification it is clearly stated that E-Payment is mandatory for Corporate assessee and for Auditable assessee.

In practical, banks are not allowed to pay TDS by challan to corporate assessee. And also no default generated in auditable assessee who paid TDS by way of challan i.e. not by E - Payment.

Kindly guild me in this regard.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 February 2015 Yes the department is not very strict in this as yet. I know many companies who are paying TDS by cheque without any hassles.

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