pankaj kumar (accountant) (30 Points)
14 July 2009Dear Sir,
please send me, what is last date of TDS deposit for the F.Y. 2008-09, when till date we have not deposit TDS, can I deposit it?
Thanks & regards
pankaj
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 14 July 2009
The last date for the TDS which is deducted on 31/03/09 was 31/05/09 and for all other deductions was 07/04/09. Yes you can deposit but you are required to pay interest along with the TDS amount.
Vibhash Kumar Sah
(CA)
(73 Points)
Replied 14 July 2009
Dear Pankaj Sir,
Its all ready too late, so u will be liable to interest & Penalty. However, one relief u have for the TDS liability for the month of March that if u deposit the TDS before the date of filing of Income tax return u will get deduction for the expenditure for the year 2008-09 itself. In other words, for the year 2008-09 u can deposit TDS anytime with interest & penalty. Except for the month of March, no expenditure on which tax was deductable but either tax has not been deducted or deducted but not paid till end of 2008-09, will be allowed as deduction during the year 2008-09. These will be allowed during the year in which tax has been paid.
For any further clarification, revert back me.
Thanks & Regards,
Vibhash Sah
CAclubindia
