Tds payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 March 2014 Dear Sir,
This is to request you please provide detail that i am working in Proprietorship firm have to pay TDS for FY 2013 to 14
but due to insufficient fund we are not able to pay by this 31March 2014
i just want to know is there any provision that i could pay it later with penalty
do is there any option to make TDS payment after 31March2014.

Please reply.
Thanks

chetan soni

chetan soni (Expert)
Follow

25 March 2014 If you are ready to pay the tds liability with penalty & interest then thats ok for the department as long as they are getting the revenue they are fine. But just make sure you are paying all this before due date of filling the return for the proprietor concern other it will get disallowed in the FY 2013-14.

You can have this paid from anyother persons account like family member or friend of proprietor and show the liability as unsecured loan and pay back to him when you money. By this you don't need to pay additional interest and penalties & you will be covered for any complications.

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2014 Thank you sir,
for your suggestion,
sir nobody is there who will help me.
but sir it is sure that i can make this payment before 31July2014.

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2014 Sir,
I am still confused some my friend says that i have to make TDS payment by this March.2014 only.

pl give me any reference or section details for the TDS payment after March2014

Thanks

chetan soni

chetan soni (Expert)
Follow

26 March 2014 No need to worry. It might be because he is acting as collection person on behalf of department.

Refer to rule 30 & 37CA which explains the time of deposit of TDS/TCS.

For paying the TDS you need to search the person your own.

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2014 Thank you sir.
you have built my confidence.