Due date on TDS for salary
This query is : Resolved
22 October 2008
Dear Sir,
If we booked salary entry in our books on 20/10/08 then when will be paid TDS for salary?
or
If we booked salary entry in our books on 31/10/08 then when will be paid TDS for salary?
Thanks in advance
Regards
subhash
If we booked salary entry in our books on 20/10/08 then when will be paid TDS for salary?
or
If we booked salary entry in our books on 31/10/08 then when will be paid TDS for salary?
Thanks in advance
Regards
subhash
Guest
Guest
(Expert)
22 October 2008
Dear
in case of salary the TDS is always deducted when PAID NOT CREDIT
so when u paid the amount of salary then u deduct the TDS as u book the salary on 20/10/2008 u can deduct the tds on same day or when u pay for this but u want to deposite TDS then u can deposite on 7/11/2008 on both cases(20/10/2008 or 31/10/2008)
in case of salary the TDS is always deducted when PAID NOT CREDIT
so when u paid the amount of salary then u deduct the TDS as u book the salary on 20/10/2008 u can deduct the tds on same day or when u pay for this but u want to deposite TDS then u can deposite on 7/11/2008 on both cases(20/10/2008 or 31/10/2008)
22 October 2008
TDS on salary is based on payment basis.
22 October 2008
Section 192 reads as:
Any person responsible for paying any income chargeable under the head “Salaries†shall, at the time of payment, deduct income-tax on the amount payable...........
Thus, section 192 clearly states that TDS shall be deducted only at the time of payment.
Any person responsible for paying any income chargeable under the head “Salaries†shall, at the time of payment, deduct income-tax on the amount payable...........
Thus, section 192 clearly states that TDS shall be deducted only at the time of payment.
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