19 April 2010
I am working in one of pvt ltd co. as accountant, we have not deducted TDS on salary of workers, which is the last date for submiting TDS on salaries.
19 April 2010
The tax deducted shall be remitted within 7 days from the last day of the month in which the tax is deducted. If there is delay in remitting or deducting or shortfall in remitting or deducting, interest of 12% p.a.(18% W.E.F 01.07.10) shall be paid from the date on which tax is deductible to the date on which the tax is actually paid as per Section 201(1A). Hence, for delay in remittance also, interest is payable from the date of tax deduction. Such interest has to be paid before furnishing the quarterly TDS return.
CAclubindia
