CA Sunil Kumar Dudeja (Student) (135 Points)
30 June 2012
Vishwas V Rao
( Chartered Accountant)
(239 Points)
Replied 30 June 2012
If deduction has not been made in books - from date of credit in books to date of deduction - 1% pm/ part of the month
From date of deduction to date of payment of TDS - 1.5% pm/ part of the month.
In your 1st case: 1.5% for 3 months
2nd case:
If you have recorded the expenditure in your books of account on 1/4/12 then 1% for 3 months
If you have recorded the expenditure on 30/6/12 then no interest.
(ie, depending on your accounting policy)
Maruthi
(Tds Returns Preparer)
(207 Points)
Replied 04 July 2012
Dear all
While preparing the Form 24Q, if deductor deducted the tds every month among the employee's salary, the gross monthly salry will be shown in deduction column by monthly in every quarterly 24Q. But, If any employee's tds deducted only in last month (March), which amount should shown in deduction column (whether monthly salary total (or) yearly salary total) ?
Regards
CAclubindia
