Payer

Frequently Asked Questions regarding Payer under TDS.

Who needs to deduct TDS?
The Payer/ Deductor has to deduct TDS before making payment to a payee. TDS is deducted at a prescribed rate as per the applicable Income Tax Section. The a...
Wed, 30 Mar, 2022 at 12:22 PM
How is TDS Deducted?
Deductor/ Payer is required to deduct tax before making payment to a payee. For example, while making the payments like salary, rent, interest, commission, ...
Wed, 30 Mar, 2022 at 12:22 PM
What is TDS?
Tax Deducted at Source (TDS) is an indirect method of collecting Income Tax. TDS is based on the principle of “Pay as you earn” which is beneficial for both...
Wed, 30 Mar, 2022 at 12:22 PM
Should government deductors apply for TAN?
Yes. All Government deductors are also required to quote the TAN on their TDS / TCS / Annual Information Returns. Following are the different ...
Wed, 30 Mar, 2022 at 12:22 PM
Do companies need separate TAN for each branch?
Yes. In the case of companies/banks having branches at different locations needs to apply for separate TAN for each branch. The name and location of the bra...
Wed, 30 Mar, 2022 at 12:22 PM
Do I need different TAN for TDS deducted on different types of payment?
No. TAN once allotted can be used for all types of TDS Deductions. For example: If you are a company/employer who needs to deduct TDS on salary and professi...
Wed, 30 Mar, 2022 at 12:22 PM
Can I quote PAN in place of TAN?
No. PAN should never be quoted in the field where TAN is required to be quoted. The purposes for which PAN and TAN are allotted are different. TAN is a un...
Wed, 30 Mar, 2022 at 12:22 PM
Can I make changes to payer/deductor details in filed e-TDS Return?
Yes. You can make changes to payer/deductor details in filed return. It is considered as the C1 type of correction. You can make changes to following fields...
Wed, 30 Mar, 2022 at 12:22 PM
Who is a Payer/ Deductor under e-TDS Return?
A payer is a person who is making payment of specified nature which is liable to tax deduction. A payer is also known as Deductor. A payer is liable to dedu...
Wed, 30 Mar, 2022 at 12:22 PM
What information of payer/ deductor is required to file e-TDS Return?
In order to file e-TDS return, following information of a payer/deductor is required:  Legal Name, TAN, PAN, GSTIN (optional), Type of Payer R...
Wed, 30 Mar, 2022 at 12:22 PM