Tds due dates

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2012 Can anyone please guide me about following :-
1) If our client has raised invoice in month of Jan., Feb & we had made the payment in June after deducting their TDS.
Now my query is, am i liable to pay penalty for late deposit of TDS or i can deposit it on 7th of this month without penalty.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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06 July 2012 There will not be any penalty, you will have to pay the interest @1.5 % per month and you will be eligible for the deduction of expenses.

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