TDS Deposit
This query is : Resolved
07 May 2008
The liability to deposit TDS deducted during the month of March is 31st May and for April its 7th May, for May its 7th June. Kindly opine whether its true otherwise plz correct me.
07 May 2008
TDS has to be deposit on the 7th of the succeeding month for the month in which it was originally deducted for.
eg:TDS deducted for March should be deposited on the 7th of April.
eg:TDS deducted for March should be deposited on the 7th of April.
07 May 2008
Thanks Amit for the reply but i think that for March due date is 31st of May instead of 7th April or are u very much sure?
07 May 2008
The answer is somewhere in between.
Normally the due date is 7th of suceeding month.
However, for credits on the last date of the financial year(ie. credits and deduction on 31/03/YYYY)the last date is 31st May.
Some restrospective changes has been made in Finance Act'08 regarding TDS payment for Mar'YY, providing some further relief.
Normally the due date is 7th of suceeding month.
However, for credits on the last date of the financial year(ie. credits and deduction on 31/03/YYYY)the last date is 31st May.
Some restrospective changes has been made in Finance Act'08 regarding TDS payment for Mar'YY, providing some further relief.
07 May 2008
I AGREE WITH SRI NAIK AND ADD THAT
Sec 40 (a) (ia) ammendment made retrospectively to allow deduction of expenses in case TDS of Mar month not paid in time but paid before due date of return.
R.V.RAO
Sec 40 (a) (ia) ammendment made retrospectively to allow deduction of expenses in case TDS of Mar month not paid in time but paid before due date of return.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Capital gain on flat sale by nri, rate is 12.5% wo indexation or 20% with indexation?
- Payable outstanding for years disallowance
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
