If you have missed the deadline to pay your TDS (Tax Deducted at Source), you may be liable to pay interest on late payment of TDS. The interest rate is 1% per month or part of the month for the period of delay. In this article, we will discuss how to pay the interest on late payment of TDS online.
Step-by-Step Guide to Pay Interest on Late Payment of TDS Online:
- Go to the official website of NSDL at https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp.
- Click on “Online Payment of TDS” option under “Services” section on the homepage.
- Select “Challan No./ITNS 281” under “Tax Applicable” dropdown menu.
- Fill in the necessary details like PAN, Assessment Year, Type of Payment, etc.
- Under the “Details of Payment” section, select “Interest on Late Payment of TDS” under the “Nature of Payment” dropdown menu.
- Enter the amount of interest to be paid.
- Enter the TDS/TCS Challan details for which interest is being paid.
- Verify the details entered and click on “Proceed.”
- You will be directed to the payment gateway. Choose the mode of payment, i.e., net banking, debit card, or credit card.
- Once the payment is successful, a challan counterfoil will be displayed on the screen. You can download and print the challan for your records.
Note: It is important to pay the interest on late payment of TDS within the specified time limit to avoid any penalty or legal action. Also, make sure to cross-check the details before making the payment to avoid any errors.
In conclusion, paying the interest on late payment of TDS online is a simple and convenient process. By following the above-mentioned steps, you can easily pay the interest on late payment of TDS from the comfort of your home or office.