due date for payment of tds
This query is : Resolved
17 November 2008
hi
The due date of payment of tds is 7th of the following month, but i have deposited my tds at bank on 8th of the month, and the bank gave me the deposit date of 8th.
the date of clearing is 11th .
am i liable to pay interest for the delay payment of tds??
and which date is applicable for the payment of tds (as per income tax act)whether deposit date or claearing
The due date of payment of tds is 7th of the following month, but i have deposited my tds at bank on 8th of the month, and the bank gave me the deposit date of 8th.
the date of clearing is 11th .
am i liable to pay interest for the delay payment of tds??
and which date is applicable for the payment of tds (as per income tax act)whether deposit date or claearing
17 November 2008
It is deposited date i.e, 8th of the month and you are liable for interest @ 1% p.m. (When you are late even for a day ,you are liable for interest for full month).
17 November 2008
Pawan's answer is correct. Refer section 201(1A)
17 November 2008
per month interest rate is 1% even if it is part thereof.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- 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
