TDS Payment
This query is : Resolved
07 September 2008
Dear Experts,
I have a doubt about payemnt of TDS.
As per the Act, TDS to be paid before due date ie 7th of next month. If i paid by cheque/draft before due date but cleared after due date.
Whether it will come under delay in payment? can u give your expert opinion with Circular reference.
I have a doubt about payemnt of TDS.
As per the Act, TDS to be paid before due date ie 7th of next month. If i paid by cheque/draft before due date but cleared after due date.
Whether it will come under delay in payment? can u give your expert opinion with Circular reference.
08 September 2008
The date which bank writes on Challan is considered as the depositing date.
The Act defines that TDS should be deposited within a Week from the end of month.
Deposited here means money should be transfered to the Government account till 7th in order to escape delay.
If payment is made through check, it generally takes 3 days to transfer funds to the Govt. account, hence it should be deposited till 3rd or 4th so that it gets clear till 7th and you escape from delay.
The Act defines that TDS should be deposited within a Week from the end of month.
Deposited here means money should be transfered to the Government account till 7th in order to escape delay.
If payment is made through check, it generally takes 3 days to transfer funds to the Govt. account, hence it should be deposited till 3rd or 4th so that it gets clear till 7th and you escape from delay.
08 September 2008
Tedering date of cheque to the bank will be considered as the date of deposit if the cheque is honoured.
08 September 2008
great article on the issue by RAJAN GUPTA..........DO NOT MISS IT
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=923
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=923
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
