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Under sole propritership firm

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17 October 2013 under propritership firm is it complsory that employer deposit TDS quaterly or not ??
Is it possible that employer can deposit TDS for the whole year in the monthe of march ??

17 October 2013 Hi

Answer is big NO.

It is standard for all.

Pl refer for more clarity: http://www.charteredclub.com/tds-payment/

Thanks//VaibahvJ

17 October 2013 Agreed with big no of Vaibhav and law is same for all and it must be deposited by 7th of the month next to which tds was deducted.


17 October 2013 Thanks Tusharbhai..

17 October 2013 i m not deduct TDS of my emplyee from 1 apirl to sept 2013 what i do.??
as i calculate his his monthely TDS amount is 1734 RS.. how can and how much amount i deposit to the govt. a/c. ??
what the int. amount plz tell me sir...

17 October 2013 Hi

Since you have not deducted TDS, you can deduct total TDS in next salary pay outs & pay amount on time.

Thanks//VaibhavJ

18 October 2013 is there any interest penalty??

18 October 2013 You need to pay int on non deducting tds and non payment of tds..from the date of it becoming due to date of deducting and from date of deducting till date of making payment.


18 October 2013 interest calculated on monthe or days basis
@ 1.5% . if i m not deduct tds for the monthe of arirl then what the interest period to pay interest today

18 October 2013 It iis 1.5 pm or part thereof means if there is 2 months and 6 days of delay then take it as full 3 months in cal of int.

18 October 2013 THANKS FOR UR GUIDENCE....




18 October 2013 what the a/cting procedure we adopt when we deduct tds of a salaryed prsn . it is as below
1- tds paid a/c dr. 100
to bank/cash a/c 100
2- at the end of the year
P/L a/c dr 100
to tds paid a/c 100

is it right???

21 October 2013 FIRST ENTRY FOR TDS PAYABLE THEN BOTH YOUR ABOVE WILL BE PASSED.

21 October 2013 Refer this for more info on whole tds related issues with salary.
https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp


21 October 2013 Agree with Tusharbhai.

22 October 2013 thanks for help...



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