Menu
TDS on Salary
Salary for the month of march is paid on 7th April. It is shown as salary payble on 31st March. When should the TDS on salary of March be deducted. ashould it be 31st March or 7th April. Please guide.
Replies (3)
The deduction is to be made at the time of the actual payment.
On 7th April
TDS is deducted
At the time of credit of Deductee a/c in the Deductor books or
At the time of payment by the Deducter
whichever is earlier.
Salary has been earned by employee and it has become creditor of the company as on 31st March 2017.
It means you need to Deduct tds on 31st March 2018.
One More thing if you will deduct this TDS in the month of April then this entry will comes in 1st Quarter of 2018-19.
If you shows TDS deducted in April this will affect Emplyee 26AS also.
TDS IN CASE OF SALARY IS DEDUCTED ON ACTUAL PAYMENT SO MR.NAVEEN IS RIGHT.
Recent Threads
- Houston Sign Company For Custom Signs, Banners &am
- Refund due to change in GST Rate Tobacco Products
- Lease related query can we rent out lease ?
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
Related Threads
CAclubindia
