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Pankaj Tyagi
| Updated: 20 May, 2021 | Category: TDS Return

What are the Online Methods for Checking the TDS Status?

What are the Online Methods for Checking the TDS Status

The concept of TDS came into existence to collect Tax from the non-exempted source of income. As per TDS, an individual (deductor) obligated to make payment of specified nature any other individual (deductee) shall deduct Tax at source & forward the same into the Central Government’s account. Therefore, in this write-up, we will explain What are the Online Methods for Checking the TDS Status?.

The deductee who has confronted the income tax deduction at source would be liable to get a credit of the amount so deducted based on the TDS certificate granted by the deductor or Form 26AS. 

According to the IT Act, 1961, every person or company is accountable to pay taxes if their income falls above a certain threshold limit.

TDS deduction encompasses various type of payment, including-

  • Salary
  • Rent
  • Commission earned
  • Professional or consultant fees.
  • Interest payment by banks.

Tax Deducted at Source refers to an advance tax which Indian government imposes on a periodic basis. The overall deducted TDS is claimed as tax refund post filing of IT return.

Taxes shall be imposed at the rate prescribed in the applicable provision of the Act or the First Schedule to the Finance Act. But, in case of payment to foreign nationals, the withholding tax rates prescribed under the DTAA (Double Taxation Avoidance Agreements) shall also be taken into account. 

Read our article:What is the Online Process of Registration for TRACES?

What are Viable Methods Available to the Taxpayers to pay Tax Deducted/Collected at Source?

A tax collected or deducted at source shall be remitted to the Central Government’s account by following modes: 

  • Digital mode: E-Payment is compulsory for
    • All corporate assesses; and
    • All assesses (apart from the company) that falls under the regime of section 44B of the IT Act. 
  • Physical Mode: By giving the Challan 281 in the designated bank branch. 
Note: Where Tax is collected/deducted by the government-based office, it can forward Tax to the Central Government’s account without production of income-tax challan. In such scenario, the Treasury Officer or the Account Officer or the Cheque Drawing and Disbursing to whom the deductor reports the Tax so deducted & who is obligated for crediting such amount of credit to the Central Government’s account shall furnish a statement in Form No. 24G.to NSDL within applicable timeline.

Check TDS Status via PAN Card

TDS is an abbreviated form of the term Tax deducted at Source (TDS) regulated by the Central Board of Direct Taxes. It is a method of tax collection from persons and entities as per the Income Tax Act 1961. 

What is the TDS return?

TDS return refers to a statement that comes quarterly and is being furnished to the IT department of India. In other it is statement issued upon successful payment of the taxes, enclosing all the transactions cited towards TDS deduction made during a quarter. It is provided by the payer, furnished to the IT department of India. TDS return typically enclosed the following information.

  • Details of deductor(s)
  • Permanent Account Number (PAN)
  • Information regarding the Tax paid to the central government.

There are various forms linked with TDS returns; the given table encloses its relevant details.

Form number Importance Frequency of submission
Form 24Q Statement enclosing information of TDS deducted from salary Quarterly
Form 26Q Statement enclosing information of TDS deducted from earning except salary Quarterly
Form 26QB Statement enclosing information of TDS deducted on income from the immovable asset’s transfer (except agricultural land) Should be furnished within 30 days from the end of the month when the deduction came to effect.
Form 26QC Statement enclosing information of TDS deducted from payment of rent Should be furnished within 30 days from the end of a particular month when the deduction came to effect.
Form 27Q Statement enclosing information of TDS deducted on incomes reaped from interest, dividend, or other sum payable Quarterly

The person deducting TDS is accountable to furnish an acknowledgement form to the taxable person. It act as an evidence that the mandatory taxes have been addresses and furnished to the concerned authority. This certificate encloses information like;

  • Payee details
  • Payer Details
  • Tax deduction date
  • Date of credit submission

TDS certificate is important to claim refund (if any) while filing IT Return.

Online process to check the TDS status by using the PAN Card

  • Enter the following URL in your web browser www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml
  • Enter the Verification code
  • Key-in the verification code
  • Enter PAN & TAN details in the given field. 
  • Choose the fiscal year, quarter, and return type. 
  • Tap on the Go option. 
  • The detail regarding the TDS status will be prompted on the corresponding screen. 

Online process to check TDS credit using form 26AS

Step 1 

Visit the Income tax official website by entering the following URL in the web browser. www.incometaxindiaefiling.gov.in/home

Step 2

Complete the registration formalities by providing the legitimate detail. 

Step 3

If you are already registered to the portal, use your credentials to log in to the portal. 

Step 4

On the following page i.e., home window, navigate to the ‘My Account’ option. 

Step 5

Select ‘View Form 26AS’ and choose the relevant year. 

Step 6

Choose ‘PDF format’ & download the file.

Conclusion 

Keep in mind that the downloaded file can only be accessed by providing Date of Birth (DOB) mentioned on the PAN card. This is because it is encrypted in nature and seeks a password. Apart from ascertaining TDS status via Form 26AS & PAN card, one can view the TDS online through the net banking portal. But, for that, you will be required to link the PAN details with the net banking portal.

If you seek some additional detail pertaining to TDS status , let us know by dropping the comment in the messa TDS status ge box. The professional at CorpBiz will try to respond them in a swift manner.

Read our article:Section 194J under IT Act- All You Needs to Know

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Pankaj Tyagi

Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.

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