TDS on salaries?

Dear Ketan,

In case of salary the TDS is payable within 7 days of end of the month in which the tax is deducted. And tax will be deducted at the time of credit or payment of the same. Salary is required to be accrued for every month even you pay the same is next month. That means in any case you will have to pay the tax by 7th of next month.

Section 192 deals with the same.

Regards

Hitesh

Sec 192 provides to deduct tax on salary only on payment......Yes there are some loophole in provisoins but we can't do any thing...........taxation runs on provisions and not on logic

But this is against the principle of accounting.

According to Section 192 TDS on salary can be deducted at the time of payment of salary and not on accrual basis........and the reason being in Income Tax calculation under the head of salary also salary received is considered as income and not accrued......and according to me salary cycle doesnt metter so much as every deductor has to deposite tax ......maybe a bit late......and in practical ......i think lots of companies are giving salaries on 1 st of the month these days.....so i am not agree it has loopholes