Due date for TDS

Dear Sir,

Since u have not deposited it in due date so no question of another due date.....

 Interest is to be CALCULATED as follows--

Amount = TDS

Rate = 1% per month or part thereof

Period = From Due Date of Deposit to Actual Date of Deposit

ONLY THING IS IF U DEPOSIT IT BEFORE 31.03.2010 THEN THE EXPENSES WILL BE ALLOWED AS DEDUCTION DURING 2009-2010 otherwise the year in which u deposit the amount of tds.

FURTHER, BE PREPARED AO MAY IMPOSE A PENALTY EQUAL TO THE AMOUNT OF TDS IN DEFAULT IF U COULDM'T JUSTIFY THE DELAY..........

Interest on late payment of TDS, is applicable at following rates by simple interest rate method.

A) period prior to 01.04.08 interest is chargeable @ 12 per cent per annum.

B) after .01.04.08 interest is chargeable @ 1 per cent for every month or part of the month ,means full month interest will be charged for fraction period of month

other points
 

1. while calculating interest TDS amount payable on which interest is to be calculated (principal amount) should be rounded of to nearest multiple of 100 ignoring fraction of Rs.100.
2. Interest will be charged on the amount payable form the date on which such tax deductible to the date of actual payment.
3. Means while calculating period for interest purpose ,the period prescribed for making the payment to the credit of central government is not to be excluded.
4. Interest liability is absolute and mandatory and should be deposit through self assessment and assessing officer can not exempt from interest liability.
5. With effect from 1.6.2006 ,this interest must be paid on self assessment basis by the person every quarter before furnishing the quarterly return.(form 24Q/26Q/27Q)

regards,

ratan

Accd to me, Normally the due date for deposit is withing 7 th day of next month. April'09 to Feb'10 should be deposited in march'10 to claim the deduction of exps for that year. For the month of March'10 should be deposited before filing of return.

If there is provision of exps on last day of march then it is to be deposited before the filing of return.  

Interest to be calulated as from the due date to Actual date of deposit at the rate of 1% of tax.

Becarefull abt this provisions, now a days TDS Dept regular in issuing notice so be prepare in advance and honestly deposit interest.

Accd to me, Normally the due date for deposit is withing 7 th day of next month. April'09 to Feb'10 should be deposited in march'10 to claim the deduction of exps for that year. For the month of March'10 should be deposited before filing of return.

If there is provision of exps on last day of march then it is to be deposited before the filing of return.  

Interest to be calulated as from the due date to Actual date of deposit at the rate of 1% of tax.

Becarefull abt this provisions, now a days TDS Dept regular in issuing notice so be prepare in advance and honestly deposit interest.

Accd to me, Normally the due date for deposit is withing 7 th day of next month. April'09 to Feb'10 should be deposited in march'10 to claim the deduction of exps for that year. For the month of March'10 should be deposited before filing of return.

If there is provision of exps on last day of march then it is to be deposited before the filing of return.  

Interest to be calulated as from the due date to Actual date of deposit at the rate of 1% of tax.

Becarefull abt this provisions, now a days TDS Dept regular in issuing notice so be prepare in advance and honestly deposit interest.

yes the due date of filing the TDS Return is 7th day of next month. but if u deduct on 31st March u have time period of 2 months to deposit.otherwise interest for late deposit which have been discussed above

On or before 31.3.2010 with 1 % interest per month or part of the month

please answer coreectly and simply

what is due date for paying TDS deducted up to FEB 10  ?

What is due date for march 10 due ?

What is due date for march 31due ?

Now from AY 2010-11 onwards, Tax deducted during the previous year (Not only march) can  be deposited on or before the due date for filing return of income as given in explanation to Sec 139(1) with interest in order to alienate the hardship of  disallowance of expenditure under section 40a (ia).

Originally posted by : saravanan
	please answer coreectly and simply what is due date for paying TDS deducted up to FEB 10  ? What is due date for march 10 due ? What is due date for march 31due ?

for Feb 10 - Due date is 7th March 2010

for march 10 due date is 7th april 2010

for march 31, due date is 31st May 2010

:-)