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TDS

Shashi Kumar C.G. (Articled) (158 Points)

01 August 2009

Hi CA Colleagues,

When is the due date for remitting tds for foreign payments for the month of March? Is it 31st May or 30th Sep? If it is 31st May , in which book it is mentioned. I Searched in Dr. Singhania's Ready reckoner, but i couldn't find.

Please reply. It is very urgent.

Thanks in advance.

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11 Replies

laxman suthar (Asst. Manager Taxtation ) (329 Points)
Replied 01 August 2009

with in 14 days from the end of quarter

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CA. Bikash Bogi (Partner) (1639 Points)
Replied 01 August 2009

As per the provisions of DTAA, TDS should be remitted to the Government at the time of payment to Foreign Parties.

(Guest)

Agreed with Mr. Bogi.

CA CS Amit Borade (Chief Accountant) (2828 Points)
Replied 01 August 2009

Bogi is right

VIPUL BUBNA (MANAGER TAXATION) (119 Points)
Replied 01 August 2009

No, TDS for foreign payments is covered under section 195, wherein if the amount is credited on 31st of March then within 2 months from 31st March, i.e.31st May, in all other cases within one week from the last day of the month in which deduction is made.

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Rupesh Mangilipalli (Manager -Accounts ) (29 Points)
Replied 01 August 2009

everybody

can u please help me with the TDS rate U/S 195 of the income tax act

(Guest)

with in 14 days

Shashi Kumar C.G. (Articled) (158 Points)
Replied 04 August 2009

Originally posted by :VIPUL BUBNA
"	No, TDS for foreign payments is covered under section 195, wherein if the amount is credited on 31st of March then within 2 months from 31st March, i.e.31st May, in all other cases within one week from the last day of the month in which deduction is made.	"

Hi Mr. Vipul,

Thank you for your reply, Mr. Vipul, can you please tell me under which section we can find this date and which book i have to refer.

Thanks,

Shashi

VIPUL BUBNA (MANAGER TAXATION) (119 Points)
Replied 05 August 2009

You can refer V.K.Singhania professional edition as well as student edition same is covered very well in TDS under section 195

Rupesh Mangilipalli (Manager -Accounts ) (29 Points)
Replied 05 August 2009

Originally posted by :VIPUL BUBNA
"	You can refer V.K.Singhania professional edition as well as student edition same is covered very well in TDS under section 195	"