sorry it is 2011

as soon as tds deducted,deductee can cross check whether tds has been remitted on deductee pan no. through 26AS,it is not happend so, deductee can ask deductor to remitte the amount. 

TDS has to be deducted at the time: -

1. Credit; or
2. Payment

which ever is earlier.

In your case you have to deduct TDS on 31.05.2011 but you can pay TDS to the account of government till 07.06.2011 i.e. within 7 days from the end of the month in which: -

1. Bil is credited; or
2. Payment has been made

which ever is earlier.

So you have to deduct TDS on 31.05.2011 and make payment of TDS to the account of government till 07.06.2011.

Your bill date is 31.05.2011. But you credited  this bill on 01.06.11 and bill payment was made in next. Then you should be paid TDS on 07.07.2011.

Pradip Saha

TDS Should be Deducted on the Basis of Payment or Credit Whichever is Earlier

in your case U Received Bill Dated 31.05.2011 So u Have to Deduct TDS on 31.05.2011 and Pay the Same up to 07.06.2011, but in case if u have Paid Advance Against the Same Bill i.e. on 28.04.2011 so u have to deduct TDS on 28.04.11 [i.e. Payment Date] and Pay TDS up to 7th of Next Month 

TDS deduction is not depant on bill date . It is depanted the amount is credit or payment which ever is earlyer.

Pradip Saha

Hey Suraj

The TDS should be deducted at the time when the bill was credited or paid whichever is earlier but it should be deposited in the Govt. Act. within the seven days after the end of the month in which it is credited or paid.

In your case u have to submit it upto the 7th June2011.

.............GOD BLESS YOU...................

Originally posted by : S.M.Dinesh Kumar
	Hi, Sharm If it is proprietorship firm last date of payment is 07th July-2010, If it is other than proprietorship last date of payment is 07th June-2010.

@ S.M.Dinesh Kumar : How is it  07th July-2011 in case of proprietorship firm..??

As per the I.T. Act, 1961;

Any person, resposible for paying any sum, shall, at the time of credit of such sum to the account of the payee OR at the time of payment thereof in cash or by issues of cheque/draft or by any other mode, WHICHEVER IS EARLIER , deduct TDS as applicable under respective catagory (say 2%/1% u/s. 194 C & 10% u/s. 194 J etc.).

TDS deducted shall be be paid to govt. on or before the 7th day after the end of month in which it was deducted. This means it is to be paid on or before 7th of subsequent month (in all the cases - whether company deductee OR Non-company deductee).

So in case of Mr. Sharma, due date of payment of TDS to govt. will be 7th June, 2011 only. (as correctly said by many others).

In case of failure; 

As per Sec. 201 (1A) of the Income Tax Act, ‘ Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as if referred to in that sub-section does not deduct [ the whole or any part of the tax ] or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest at [ one & half percent for every month or part of a month] on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid [ and such interest shall be paid before furnishing the statement in accordance with the provision of sub-section (3) of section 200].

Let me know, if there is any mistake in my interpritation.

Regards,

sKY....

Originally posted by : S.M.Dinesh Kumar
	Hi, Sharm If it is proprietorship firm last date of payment is 07th July-2010, If it is other than proprietorship last date of payment is 07th June-2010.

@ S.M.Dinesh Kumar : How is it  07th July-2011 in case of proprietorship firm..??

As per the I.T. Act, 1961;

Any person, resposible for paying any sum, shall, at the time of credit of such sum to the account of the payee OR at the time of payment thereof in cash or by issues of cheque/draft or by any other mode, WHICHEVER IS EARLIER , deduct TDS as applicable under respective catagory (say 2%/1% u/s. 194 C & 10% u/s. 194 J etc.).

TDS deducted shall be be paid to govt. on or before the 7th day after the end of month in which it was deducted. This means it is to be paid on or before 7th of subsequent month (in all the cases - whether company deductee OR Non-company deductee).

So in case of Mr. Sharma, due date of payment of TDS to govt. will be 7th June, 2011 only. (as correctly said by many others).

In case of failure; 

As per Sec. 201 (1A) of the Income Tax Act, ‘ Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as if referred to in that sub-section does not deduct [ the whole or any part of the tax ] or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest at [ one & half percent for every month or part of a month] on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid [ and such interest shall be paid before furnishing the statement in accordance with the provision of sub-section (3) of section 200].

Let me know, if there is any mistake in my interpritation.

Regards,

sKY....

when you have credited the bill than you will deduct tds and payment of tds will be accordingly

yaar, tumahare pass kya income tax ka ready reacknor ya koi reference book nahi hoti kya, jo tum log yeh small doubts bhi yaha post karke khud ka or dusre logo ka time waste karte ho,

or kya jab tak doubt ka replay nahi ayaga tab tak kya tum log T.D.S nahi katoge ................

Dear Friends,

Is that any changes in TDS due date and efiling last date.

on what amount tds to be deducted?

will it be deducted on total bill amt or bill amt excluding service tax