About Tax Payments

Set up the RazorpayX Tax Payment app, make automatic and manual TDS payments, and pay advance tax.

Every business has to pay several types of taxes (direct and indirect) to the government every month. The most common tax payments are tax deducted at source (TDS), advance tax, and goods and services tax (GST).

You can use RazorpayX tax Payments to automate direct tax payments via a user-friendly interface.

Watch the below video to know more about tax payments.

Types of Tax Payments🔗

You can use the RazorpayX Tax Payment App to make tax payments of the following categories:

  • Tax Deducted at Source (TDS): As per the Income Tax Act, any company or person making a payment is required to deduct tax at the source if the payment exceeds certain threshold limits.
  • Advance Tax: Advance tax is the amount of income tax that is paid much in advance rather than a lump-sum payment at the year-end.

Types of TDS Payments🔗

There are 2 ways you can make TDS payments:

Automatic TDS Payments🔗

When you upload an invoice to RazorpayX Vendor Payment, 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. Know more about automatic TDS payments.

Manual TDS Payments🔗

You can manually enter the TDS details on RazorpayX Tax Payments and make the payment. After the payment is made, the amount is deposited as taxes. You can download the challan and file the TDS. Know more about manual TDS payments.