TDS Remittance - Reg
This query is : Resolved
31 March 2009
Dear Esteemed Members,
I am confused with regard to last date on or before which TDS amount is to be remitted in order to escape from disallowance of the related expenditure by the Assessing Officer.
One of my friend informed me that the TDS amount is be remitted on or before 31st March failing which the amount on which TDS made will not be allowed as deduction.
In the case of salary payment, the payment is made on the 1st day of the succeeding month. Hence salary due for the month of April’08 paid on 1st April and tax deducted is remitted on 7th April. Kindly inform me whether such situation attracts disallowance enumerated in the Act.
Regards,
V. jagadeesan
I am confused with regard to last date on or before which TDS amount is to be remitted in order to escape from disallowance of the related expenditure by the Assessing Officer.
One of my friend informed me that the TDS amount is be remitted on or before 31st March failing which the amount on which TDS made will not be allowed as deduction.
In the case of salary payment, the payment is made on the 1st day of the succeeding month. Hence salary due for the month of April’08 paid on 1st April and tax deducted is remitted on 7th April. Kindly inform me whether such situation attracts disallowance enumerated in the Act.
Regards,
V. jagadeesan
31 March 2009
Please relax
(1) For Salaries, Sec 192 applies. Due date for TDS affected from Mar 09 salary is 7th Apr 09
(2) For Contracts, Sec 194C applies--
(a) Due date for PAYMENTS made during 1st to 31st Mar 09 is 7th Apr 09
(b) Due date for amounts CREDITED to Contractors on 31st Mar 09 is 31st May 09
(1) For Salaries, Sec 192 applies. Due date for TDS affected from Mar 09 salary is 7th Apr 09
(2) For Contracts, Sec 194C applies--
(a) Due date for PAYMENTS made during 1st to 31st Mar 09 is 7th Apr 09
(b) Due date for amounts CREDITED to Contractors on 31st Mar 09 is 31st May 09
31 March 2009
for salaries due date is 7 days from the end of month in which salary is PAID
for others due date is 7 days from end of month in which amount is paid or credited whichever is earlier
and for other for which j.v. is passed on 31st march due date is 31st may
for others due date is 7 days from end of month in which amount is paid or credited whichever is earlier
and for other for which j.v. is passed on 31st march due date is 31st may
01 April 2009
I agree with Ms Devanshi
(1) For Salaries, Sec 192 applies. Due date for TDS affected from Mar 09 salary (PAID on 1st Apr 09) is 7th May 09. This is because TDS is required to be remitted within 7 days from the end of month IN WHICH IT IS PAID but not TO WHICH SALARIES PERTAIN)
(2) For Contracts, Sec 194C applies--
(a) Due date for PAYMENTS made during 1st to 31st Mar 09 is 7th Apr 09
(b) Due date for amounts CREDITED to Contractors on 31st Mar 09 is 31st May 09
(1) For Salaries, Sec 192 applies. Due date for TDS affected from Mar 09 salary (PAID on 1st Apr 09) is 7th May 09. This is because TDS is required to be remitted within 7 days from the end of month IN WHICH IT IS PAID but not TO WHICH SALARIES PERTAIN)
(2) For Contracts, Sec 194C applies--
(a) Due date for PAYMENTS made during 1st to 31st Mar 09 is 7th Apr 09
(b) Due date for amounts CREDITED to Contractors on 31st Mar 09 is 31st May 09
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
Trending Online Classes
CAclubindia
