If salary for the month of feb is issued on 15th march and tds deucted on that date then, wht is the time for deposit of tds. Since, 7th march has already passed by. Do I have to deposit tds before salary chq is issued. If I dont't deposit till 15th march will I have to pay Interest on delay deposit. Kindly clarify.
If salary for the month of feb is issued on 15th march and tds deucted on that date then, wht is the time for deposit of tds. Since, 7th march has already passed by. Do I have to deposit tds before salary chq is issued. If I dont't deposit till 15th march will I have to pay Interest on delay deposit. Kindly clarify.
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Sweta you should deposit this amount on before the 7th April
If salary for the month of feb is issued on 15th march and tds deucted on that date then, wht is the time for deposit of tds. Since, 7th march has already passed by. Do I have to deposit tds before salary chq is issued. If I dont't deposit till 15th march will I have to pay Interest on delay deposit. Kindly clarify.
"
Fiirst you should know that on salary Tax is deducted at the time of payment and not on accrual basis.(As per sec 192)
Therefore In your case due date for deposit Tds is 7th april
Due date for deposit of tds will be 7th April as section 192 talks about date of payment (unlike other sections where earlier of the payment or provision attracts tds liability).
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