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Making TDS Payments through MysaThe steps to follow while making a payment for TDS through Mysa
Updated 9 months ago

Introduction

Making your TDS payments can be easily completed through Mysa by downloading the challan directly from the Income Tax website. This step-by-step guide will help you complete the process accurately and efficiently.

Download Challan from Income Tax Portal

1. Visit the [Income Tax Portal website](https://www.incometax.gov.in/iec/foportal/)

2. On the top navigation bar, go to e-File and click on E-Pay Tax

3. Click on + New Payment

  • Select the appropriate assessment year

  • Choose Pay TDS/TCS option

  • Select the relevant section for your TDS payment

  • Fill in all required details

  • After reaching the payment page, click on *RTGS/NEFT**

4. Click on Continue

  • Look for and click on the Download Mandate Form option

  • Save the Challan PDF to your computer

Upload Challan and Make Payment in Mysa

1. Log in to your Mysa account

2. Click on Add Bill to upload the Mandate form

3. Enter the correct bank details exactly as mentioned in the Mandate form

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  1. This challan goes through the normal route as any other bill uploaded on Mysa.

  2. Once the Mandate reaches the financial review, a new account has to be added details for which are given in the mandate form.

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Each new mandate will be assigned a distinct virtual account number. It is essential to register each mandate as a separate account.

Once in the Finance Review screen

  1. Select the vendor pertaining to this TDS section. It is always a good practice to have separate vendors for separate TDS categories

  2. Click on the bank account dropdown and select '+ Add New Instrument'

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  3. Add the relevant details

    • Account number: As the name suggests, this is the vendor vendor bank account number

    • Name on the account: You can add the name that can make the account easily identifiable.

    • IFSC code: IFSC code of the bank

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  1. A 30 mins cool off period is applied once the bank account is added

Since this a Virtual Account, it cannot be verified and will remain in unverified state

Important Note

  • Best practice is to maintain separate vendors for each TDS category

  • There will be a cooling-off period when adding these accounts

  • These are virtual accounts and will not be verified in the system

  • The payment mode should only be NEFT for these transactions.

Troubleshooting

Q: How long does it take for my payment to reflect in the Income Tax Portal?

A: After completing payment, it typically takes 15-30 minutes for the transaction to reflect in the Income Tax Portal.

Q: Why can't I see my previous virtual account details?

A: Each TDS challan creates a unique virtual account that's valid only for that specific transaction. You'll need to add new account details for each payment.

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