TDS

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Kadecha (Querist)
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11 February 2010 Dear Experts,

I have confusion on TDS deduction period, pls clear my doubts.

Within what period TDS has to be deposited...???

Within 7 days from date of payment to party or within 7 days from receipt of bills or by 7th of every next month...???

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 February 2010 With is 7days from the end of the month which is

suppose Jan-2010(1st Jan to 31st Jan) what ever you deducted tds should be deposited with in 7th of Feb-2010

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CA Prashant Gupta

CA Prashant Gupta (Expert)
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12 February 2010 agree with expert but if 7 is Sunday or public holiday then next day i.e. 8 of month.

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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12 February 2010 Is there any circular that TDS payment can be made on the next immediately following working day if 7 is a holiday as there is a circular that advance tax payment can be made inthe next day but i am not able to get any circular for TDS payment.

Kindly send the same is available