Sonam Seth Khanduja (Chartered Accountant) (112 Points)
07 June 2010IF A COMPANY CREDITED SALARY IN THE ACCOUNT OF ITS DIRECTOR DURING THE YEAR AND THE PAYMENT FOR IT HAS BEEN MADE IN THE NEXT YEAR. THEN TDS WILL BE DEDUCTED IN WHICH YEAR .FOR EXAMPLE :- IF TOTAL SALARY DUE IS RS. 5,00,000/- FOR A.Y. 2010-11. THEN TDS IS RS.52,530/- (IF DIRECTOR IS FEMALE)
WHEN TDS IS TO BE DEPOSITED ????? IN A.Y. 2010-11 OR IN A.Y. 2011-12.
WHICH A.Y. WILL BE MENTION IN CHALLAN????
IF THE COMPANY DEDUCTED AND PAID TDS ON DUE BASIS THEN WHAT WILL BE THE CONSEQUENCES OF IT.
pavanreddy
(Student)
(104 Points)
Replied 07 June 2010
date of credited in the employee a/c (receipt) or date of due which ever is earlier Actually TDS was deposited in A Y 2010-10 if not depsosited TDS was deposit with interest
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 10 June 2010
tds to be deducted on credit or payment, whichever is earlier basis. a/y should be 2010-11
CAclubindia
