Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 Can we pay tds payments of two quarters with one challan? is there any statutory requirements to pay seperate challans for seperate quarters?

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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21 July 2010 There is no statutory requirement for payment of Tax of each Quarter. You can pay tax by one challan.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 No You should not pay TDS of two quarters in 1 challan simply bcoz you will face problem in filing quarterly TDS return.
Please fill separate challan for each quarter and each section.
For example---
TDS deducted u/s 194C and u/s 194J should be deposited separately.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 We are paying seperate challans for an seperate sections but the problem is that september and october payments u\s 194C have been made by a single challan? Will there be any problem?.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 We are paying seperate challans for an seperate sections but the problem is that september and october payments u\s 194C have been made by a single challan? Will there be any problem?.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 You will face problem in filing quarterly TDS return.
Now only way is to mention same challan details in both quarter return and show deductee details of related period only.
When a query is raised you will have to clarify your position. Remember due to late submission you will not only have to pay interest but a penalty u/s 221 may also be levied on you to the maximum extent of TDS amount.