TDS on Salary deducted on 31 March

This query is : Resolved

Anil (Querist)
Follow

18 March 2008 Tax deducted on 31st March is to be deposited upto 31st May.

The above statement is confirmed by refering to following links:

https://www.indiancaonline.com/story/2005/6/14/19284/1062(refer notes: point 2)

https://www.mmehtaco.com/TDS_RATES&DUE_DATES.pdf

BUT

Following link says the above rule is NOT applicable to PAYMENT OF SALARY(Point 12)

https://ghalla-bhansali.com/it_tds.asp

Please confirm whether TDS on Salary is an exception to the statement - Tax deducted on 31st March is to be deposited upto 31st May - BY QUOTING RELEVANT SECTION / RULE

K V Subba Rao

K V Subba Rao (Expert)
Follow

18 March 2008 Please refer Table in Page A-305 of Singhania's 30th edition (latest) of Direct Taxes Ready Reckoner.

A reading of provisions of various sections tabled suggests a distinction being made in situations for deduction of tax due to between (a)making PAYMENTS and (b) CREDITING amounts on 31st Mar.

In case of TDS on amounts CREDITED, we have time upto 31st May for remittance

In case of TDS on amounts PAID, we have one week time only

Anil

Anil (Querist)
Follow

18 March 2008 Dear Sir,

Thank you very much for the reply.

In case of TDS on amounts CREDITED, we have time upto 31st May for remittance

To the above statement is SALARY credited ON 31 March an EXCEPTION as seems to be suggested by following links of Chartered Accountant's websites?

https://www.pipara.com/updates.html

https://ghalla-bhansali.com/it_tds.asp

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
Follow

19 March 2008 for salary paid on 31.03.xx it is within one week from the end of the month.
for provision, it is 31.05.xx

CA J M Pattanayak

CA J M Pattanayak (Expert)
Follow

20 March 2008 Its only 31st May.

Anil

Anil (Querist)
Follow

20 March 2008 Respected Sir,

The Doubt is NOT regarding:

Date of payment of TDS in case amount gets CREDITED on 31 March.

The Doubt IS WHETHER SALARY CREDITED is an EXCEPTION to above rule as seems to be suggested by following links of Chartered Accountant's websites?

https://www.pipara.com/updates.html

https://ghalla-bhansali.com/it_tds.asp

Kindly QUOTE reference( Section / Rule / Book)

Thank you

AMAN Gupta

AMAN Gupta (Expert)
Follow

30 November 2010 In tha case of salary, the date is only 7Apr, whether it has been paid or credited on March 31

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

eddanapudi murali

Pavithra Doss

Thanwar Chhatwani

BIBIN KUMAR

sathiyaram

Subscribe Now

TDS on Salary deducted on 31 March

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA