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TDS

04 May 2009

Hi,

Income tax department has introduced Form no.17 (Challan) for tds deposit for current financial year.By mistake i could not deposited tds amount which was credited upto 31-Mar-09. should i deposit consolidated amount (credited amt. + TDS for month of April-09+interest) through Form no. 17 or separately use Challan no. 281

Please guide me.

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2 Replies

N.J.R (Practice) (346 Points)
Replied 04 May 2009

Originally posted by :Sunil
"	Hi, Income tax department has introduced Form no.17 (Challan) for tds deposit for current financial year.By mistake i could not deposited tds amount which was credited upto 31-Mar-09. should i deposit consolidated amount (credited amt. + TDS for month of April-09+interest) through Form no. 17 or separately use Challan no. 281 Please guide me.	"

Dear Sunil,

Ur query is not clear. But u cannot pay both the TDS i.e. TDS relating to A.Y. 2009-10 & A.Y. 2010-11 in same challan. U hv to pay TDS of A.Y. 2009-10 in separate challan & that too in ITNS 281. TDS of Apr'09 should be paid in ITNS Form 17 (e-pyt) for which u hv to wait for further instructions to be given by CBDT.

Regards.

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Sandeep Keswani (Tax Consultant) (1064 Points)
Replied 04 May 2009

Form No. 17 is applicable for that amount of TDS which is deducted on or after 01-04-09. Therefore the first payment of TDS through Form No. 17 will be due only on 07-05-2009.

For the amount of TDS deducted upto 31-03-09, old Challan No. 281 will be applicable. However where E Payment is compulsory, care should be taken that payment is NOT made through manual deposit in the bank BUT it is paid online through E Payment.