Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2011 Sir/ Madam,
What is the last date of TDS (contractor) payment. In case of Salary it is within 7 days from the salary paid but I am not sure whether it is applicable for TDS contractor or not. Suppose, if I have deducted TDS from a contractor on say 5th day of the month then when I have to deposit the TDS, it is on 7th of the following month or with in seven days from the deduction.

Kindly advise.

Regards

Kamal J Kakoty

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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29 December 2011 Whatever may be the TDS, it should be deposited latest by 7th of the following month. If you have time, you can deposit any time on or before 7th of next month.

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2011 I am still not clear. Suppose I have deducted TDS on contractor on 10th December, now my question is whether it should be deposited on 16th December or can we deposit on or before 7th of January??

means TDS on contractor not salary should be deposited with in 7 days from the date of deduction or on or before 7th of the next month.
Kindly advise.

Kamal J Kakoty

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B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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31 December 2011 You can deposit latest by 7th January 2012..

If you want further details pl refer following link...

http://taxclubindia.com/simple/tds%20rules%202010-11.pdf