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Tax Deducted at Source

TIME AND MODE OF PAYMENT OF TCS

   
 

Time and Mode of payment to Government of Tax Collected at Source :

All sums collected in accordance with the provisions Section 206C shall be paid to the credit of the Central Government within one week from the last day of the month in which the collection is made.

The person responsible for making collection under Section 206C shall pay the amount of tax so collected to the credit of the Central Government by remitting it within the time prescribed above into any branch of the Reserve Bank of India or of the State Bank of India or of any authorized bank accompanied by an Income-tax challan.

However where the collection is made by or on behalf of the Government, the amount shall be credited within the time and in the manner aforesaid without the production of a challan.