28 October 2010
hi i have to submit tds challan for 3 quator, i know the last date is gone and i am late. we paid interest on unsecured annually,i have submitted the TDS challan annually before but at that time we want to paid tax quaterly. we have 20 parties in which we paid 4 parties loan completely in july 7 2010. so i am not able to understand i have to pay tds on all 20 parties or only for 4 parties to whom we paid the complete loan. Please give some advice
28 October 2010
YOU NEED TO PAY TDS IN RESPECT ON ONLY 4 PARTIES. TDS PARTY IS ARISED EITHER WE HAVE BOOKED EXPENSES OR MAKE PAYMENT WHICHEVER IS ERLIER.
IF U HAVE NOT CREDITED INTEREST AMOUNT IN THE REST PARTIES ACCOUNT THEN NO NEED TO DEDUCT TDS.
CAclubindia
