Types of TDS Payments🔗
There are 2 ways you can make TDS payments:
Automatic TDS Payments🔗
When you upload an invoice to the RazorpayX Vendor Payment app, the TDS component is auto-calculated according to the TDS rate selected for the vendor. This TDS amount is automatically deducted from your account balance and deposited with the government every month. You can download the challan and file the TDS.
Read more: How automatic TDS payments work.
Manual TDS Payments🔗
Here, you manually enter the TDS details on the RazorpayX Tax app and make the payment when you choose. Once the payment is made, the money is deposited with the government. You can download the challan and file the TDS.
Read more: How manual TDS payments work.