Tax Deducted at Source (TDS) is a tax which is deducted from the salary of the employee by the employer and submitted to the Income Tax Department. So if you are an employer, then it is your responsibility to deduct the TDS amount from your employee’s salary and submit it to the Income Tax Department.
The main aim of TDS is to estimate the income of the employee in advance so that the employees are not able to hide their income in future while filing Income Tax Return (ITR). After deducting the TDS from the salary of the employee, you can pay it to the Income Tax Department in two ways, either through cash mode or through an online payment feature.
If you want to pay TDS through cash mode, then you can go to any authorized bank and pay at the counter. The list of the authorized bank can be fetched from Tax Information Network or TIN’s official website https://www.tin-nsdl.com/authorized-banks.html.
Electronic payment for TDS was introduced in 2004. For online payment of the TDS, you will have to log in to the NSDL’s portal. This mode of payment of TDS is very convenient and less time-consuming. You can submit the TDS as soon as you deduct it and that too just by sitting at your home. TDS online payment can be done through debit or net-banking.
With the advancement in technology, everything is available to us within a click of the mouse and the same is true for TDS online payment also. This feature of TDS deposit online is one of the reasons why the delay in submission of TDS has reduced to a great extent. So, if you are an employer and want to submit TDS online, then you should definitely make the most of this feature provided by the Income Tax Department.