Tax on salary
This query is : Resolved
16 May 2008
A company pays salary to its employees on 10th of every subsequent month.however accounts for the salary in the same month.Now when does the TDS become due for payment? is it on 7th of the sussequent month or 17th?ie 7 days from date of payment?
16 May 2008
7 th day of the subsequent month
16 May 2008
TDS TO BE CREDITED EITHER ON PAYMENT OR ON CREDITING THE TDS ACCOUNT WHICHEVER IS EARLY.
SINCE YOU ACCOUNT FOR SALARY, IN SAME MONTH ie 30 TH OR 31 ST OD EACH MONTH,TDS CREDIT IS GIVEN ON THOSE DATES. ACCORDINGLY YOUR DEPOSIT DATE IS 7 TH OF NEXT MONTH.
R.V.RAO
SINCE YOU ACCOUNT FOR SALARY, IN SAME MONTH ie 30 TH OR 31 ST OD EACH MONTH,TDS CREDIT IS GIVEN ON THOSE DATES. ACCORDINGLY YOUR DEPOSIT DATE IS 7 TH OF NEXT MONTH.
R.V.RAO
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