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Tds on due date or bill date or payment date

sourabh raha (working in Government Organisation) (41 Points)

16 August 2016

I have a query regarding due date for depositing TDS .

Suppose Rent Bill Raised on 15th May 2016 for the month of Feb 16 ,March 16, April 16

Payment of above Bill made on 18th may,2016 itself.

what will be the due date for deducting and depositing the TDS ? For Which Quarter TDS return is to be filed ?

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6 Replies

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 16 August 2016

u/s 194-I, Tax is required to be deducted at source at the time of credit of ‘income by way of rent’ to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft pr by any other mode, whichever is earlier.
Since bill was raised on 15th May, tds should have been deducted on this date. Due date of payment of tds is 7th of the next month i.e. 7th June. Q1 return should be filed on or before 31st July, 2016(for both govt.and non govt. deductors w.e.f. 01.06.2016)

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Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 16 August 2016

GOOD EXPLAIN BY HARSHAL SIR

AGREE WITH HIM

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Ramya Venkatesh (2 Points)
Replied 09 November 2023

In case, If payment is made on 18th June, then when TDS is due?

NARENDRA (ACCOUNTS MANAGER) (1994 Points)
Replied 09 November 2023

Originally posted by : Ramya Venkatesh
	In case, If payment is made on 18th June, then when TDS is due?

7th July................ ............. the whole month's TDS should deposit on or before 7th of the next month ............. ........

Muktesh Meka (2 Points)
Replied 07 December 2023

Hi Harshil Sir,

Invoice was raised in the month of Oct'23 due to some discussions, the payment was made in Nov'23, while depositing the TDS on 7th Dec'23, shall we need to pay 3 months(Oct'23,Nov'23 & Dec'23) interest along with TDS or not required.

Please clear my doubt.

Thanks

Muktesh

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NARENDRA (ACCOUNTS MANAGER) (1994 Points)
Replied 07 December 2023

Originally posted by : Muktesh Meka
	Hi Harshil Sir, Invoice was raised in the month of Oct'23 due to some discussions, the payment was made in Nov'23, while depositing the TDS on 7th Dec'23, shall we need to pay 3 months(Oct'23,Nov'23 & Dec'23) interest along with TDS or not required. Please clear my doubt. Thanks Muktesh

Only one month's Int. if the invoice was raised in oct. month......the due date was 7th nov. & if not paid on due date ....paid on or before 7th Dec. so the int. will be imposed only for 1 month.