How to pay interest on late payment of TDS online?

Whenever an individual gets involved in the transaction of an immovable property and the capital gains exceed Rs. 50 lakhs, they have to pay a certain amount as taxes. If they fail to pay these taxes timely, a late fee is applicable. The fine as decided by the Income Tax Department is Rs. 200 per day until the tax is paid. 

Under section 234E, the interest must be paid if the TDS is not paid timely. In order to pay interest on late payment of TDS online, you will have to follow the usual course of action and visit

the official website of Tax Information Network (India) at

.

• Now select the ‘Challan No./ITNS 282’ option for the payment of Interest on TDS.

• You will be redirected to a new page where a form will appear.

• Enter all the details such as tax applicable, type of payment, mode of payment, PAN no., personal details, and captcha.

• After entering these details you will be redirected to a new form which shall require some more details and will have the payment option.

• Choose the payment option. If you opt for online mode, you can use net banking, mobile banking or other online payment gateways via e-challan. If you opt for offline mode, you can visit the bank to make payment.

Here is the process for

how to pay TDS interest on late payment

. The interest can be calculated and paid online using the following steps:

• Go to the official website of the Income Tax Department of India 

  https://www.incometaxindia.gov.in/

  .

• Log in using your User ID and Password.

• Navigate to the TDS portal on the website.

• Choose the appropriate section related to TDS.

• Fill in the Details

  :

  • Enter the assessment year for which the interest on late payment is applicable.

  • Provide details of the TDS deducted and the TDS payment date.

  • Enter the amount of TDS that was deducted late.

  • The system will calculate the interest amount based on the applicable interest rate.

• After filling in the necessary information, you can make the payment for the interest on the late payment of TDS.

This is

how to pay TDS interest on late payment

.

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