Tds payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 Hi

Our TDS deduction for the month of March 2012 is Rs 9231. Ideally the TDS is to be paid before 7th of April 2012. Incase if we pay the TDS on 07th itself, will we be penalized and what would be the interest on penalty. How it is calculated

CA Prashant Gupta

CA Prashant Gupta (Expert)
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04 April 2012 You have to pay tds on or before 7th day of next month. but in case of march you can pay upto 30th April.

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 What if i have already paid the Bills , in such cases also we can pay the TDS till 30th April

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CA Prashant Gupta

CA Prashant Gupta (Expert)
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04 April 2012 Yes in case of payment you can pay till 30th april, in case of only provisional entries you can pay upto 31st May.

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 Thank you Mr Gupta

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 April 2012 TDS for the month of March is to be deposited by 30th April and not 7th April.

Mihir Doshi

Mihir Doshi (Expert)
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04 April 2012 TDS for Entire March month can be paid off on or before 30th April 2012.

Due date 7th April 2012 and 31st May 2012 have been replaced by 30th April 2012.