Dear Sir

I deposited tds on rent for the month of April 08 excess.

Same excess tds paid can I adjust for the month of June 08?

Pl advise
 

Dear Sir

I deposited tds on rent for the month of April 08 excess.

Same excess tds paid can I adjust for the month of June 08?

Pl advise
 

how much fine was charged on late submission of 24Q, 26Q & 27Q

if i deposited the amount in the more than tds then how i will get refund of that amount

Our company has deducted excess TDS on rent for one party and the same has been deposited also. In TDS retrun for june-08 quarter, how it will be shown? Can the company adjuste excess deduction in June quarter in next quarter? If yes,what are the procedures?

Can excess deposit of tds adjusted in further months

Please tell me whether we consider the date of presentation of cheque into bank or its realisation date as date of payment for TDS purpose?

Dear manoj!!

The TDS details pertaining to any particular quarter has to be reported in a seperate e-TDS returns to the IT department and such returns are subject to processing by the IT department. The recovery of taxes would be reassessed at the time of such processing.

Therefore, any short recovery in a particulat\r quarter would invite demand on the part of the deductor. This situation holds true even in a case when there is excess recovery in the immediately preceeding quarter.

It may also be recalled that once the details of the deductee with the amount of TDS recovered in his case are enterered and uploadedin an e-TDS retruns the credit for the taxes recovered immediately is passed on to the deductee and no longer any portion of the taxes remain in the account of the deductor. Therefore, the possibility of such adjustment of the excess recovery would not arise at all.

Any such adjustment of taxes, if attempted for, would invite demands from the IT department for short recoveries.

However, in the case of salary paid to the deductee within a financial year, if there are excess recoveries within the quarters falling within a particular financial year, then such adjustment of the excess recovered taxes is possiblein the subsequent quarters.

Good bye!! Cheers!!

The rate is 1% pm [or part of month]

hkfzkskzkjk

Hi Friends,

we have deducted the tax on commission paid to the associates under sec 194 H and till date we have not paid the tax to the government, in such case can i now deposit the tax to the govt and i want to know the interst payable on tds, KINDLY GUIDE ME REGARDING WAITING YOUR REPLY

REGARDS

SHIVAKUMAR 

I have a query whether Interest paid on late deposit of TDS is allowable as Business Expenditure u/s 37(1) under Income Tax Provisions ?

Similarly what is the status of Interest paid on late deposit of FBT or Service Tax. Whether these will be allowble as Business Expenditure u/s 37(1) under Income Tax Provisions ?

we have deducted of tds in month of april & may 08 under section 194 (c) @ 2.266% & our quarterly return also submitted, but we want to tds dedcution under section 194 (I) from april 08, can we do this?, if yes please tell the procedure for payment of 194 (c) adjust against 194 (I)

Hi,

I have deducted TDS right time but TDS Quater Return is not fill

Pls. give me advise

sir, we have not deducted tds on rent

we have paid rs 37000/ p.m. from july 2008 to oct 2008, total rs 148000/- we have paid but tds not deducted, so what amt of tds and what amt of interest to be deducted and deposited on 7th nov 2008

pls reply me