08 April 2009
Normally the TDS deducted is to be deposited within 7 days of next month. However the TDS deducted for the month of March can be deposited by 31st May provided the amount is not credited to the party's account but shown as a provision on 31st March. So I would like to know whether this provision is still in force or not. So can we credit the amount to the parties account for the month of March and can we deposit the TDS by 31st May because since the finalization is started many people are giving bills for the month of march after 7th April (Due date for payment of TDS) so have to take it as a provision instead of crediting it to the party's account to aviod default for non payment of TDS in time
10 April 2009
tax deducted till 30 th march is to be deposited by 7th april, while tds deducted on 31 march may be deposited tll 31 may irrespective of fact whether same is credited to deductee account or suspance account
CAclubindia
