07 January 2010
we are a pvt ltd company , we are paying salary on 7th every month and deposited the tds 14th every month i.e. after 7 days of payment. but we are entering the voucher in books on last date of the month.
i.e. if we are paying the salary for the month of dec 09 in jan 2010.we are entering the salary voucher in books on 31st dec 09. payment of salary on 7th jan 2010 and payment of tds on 14th jan 2010
are we correct or not if not when should we have to deposit the tax and on which date entering the voucher in books.
07 January 2010
The company can continue with the current Practice of TDS payment on salary there will no penalty or Prosecution for this practice and make sure the TDS payment must be paid within the 7 days from the end of month in which TDS has been deducted from salary.
This practice is only and only applicable to TDS on Salary and not on others payment of TDS.
CAclubindia
