E-Payment facilitates payment of taxes online by taxpayers.
To avail this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks or a debit card in case of some banks.
A person shall also be liable to the penalty if the return has not been filed within 1 year from the due date of filing of the return or if the incorrect information has been delivered.
On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. To avail this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks or a debit card in case of some banks.List of Authorized Banks is available at the TIN website.80,000 for 6 months Explanation: - In this case, Mr. at the end of tenancy period (on November 30, 2017).Following values will be captured in the below fields: Form 16C is the TDS certificate to be issued by the deductor (Tenant of property) to the deductee (Landlord of property) in respect of the tax deducted and deposited as TDS on rent under section 194-IB of the Income-tax Act, 1961.Any change required in the name displayed as per the PAN Master can be updated by filling up the relevant change request forms for PAN. Step 5 After confirmation an option will be provided for submitting to Bank.
On clicking on Submit to Bank, deductor (as per the mode of payment selected while filling the form) will have to key in the debit card details or login to the net-banking site with the user ID/ password provided by the bank for net-banking purpose and enter payment details at the bank site.
If PAN is available then TIN system will display the contents you have entered along with the “Name” appearing in the ITD database with respect the PAN entered by you.
If PAN of the landlord is not available (select PAN of landlord as PAN Not Available) TDS has to be deducted under the provisions of section 206AA of the Income-tax Act, 1961 and such deduction shall not exceed the amount of rent payable for the last month of the previous year or the last month of the tenancy, as the case may be.
TIN system will direct you to net-banking/Debit card facility of your bank.
You will have to log on to the net banking site of your bank using your login ID and password/PIN provided by the bank.
Deductor will have to approach the TDS - Assessing Officer or CPC-TDS for rectification of errors.