RETURN OF TDS

hello sachin!!!
Banks are required to submit their TDS returns Quaterly.
Time to Submit Returns are
1st Quater- 15 july

2nd Quater- 15 october

3rd Quater- 15 january

4th quater- 15 may.

Banks have option to revise their return too if they got some problem with it.

i differ with Mr manas.

FIRST I ADVISE YOU TO GO THROUGH THE BOOKS RELATING TO THE SUBJECT.

very -vveree brief explanation is given hereunder:-

for payment of TDS deducted into the Bank is 7th of the following month.(againb for govt. organisation-s the rule differs)

for filing of TDS returns  I AGREE WITH MANAS.

for payment

if its done through a challan mode then, it should be paid within the 7th of succeeding month in which tds was deducted.

if its a govt. agency and paying through book adjustment then payment is to be made within the same day of deduction.

For returns

1st Quater- 15 july

2nd Quater- 15 october

3rd Quater- 15 january

4th quater- 15 may.

Interest rate...

1%  p.m from the date when tds was deductible to the date on which tds is actually deducted.

1.5% p.m from the due date of payment to actual date of payment.

As regards penalty its 100% of tds amt.