What is the last date for submission of tds payment for the month of 31 march?
If we received bills after all adjustments and deduct tds on 20april'09 then what will be deposited date?
Please guide me.
Amit
(Service)
(457 Points)
Replied 21 March 2009
Hello
If you booked the invoice on 31-march, then you can deposit the TDS till 31-may
Amit
rakesh
(sr. accountant)
(28 Points)
Replied 21 March 2009
if u booked the bill on 31st March , You have to deduct tds on 31st march and you have to deposit tds within due date of your return.
if you deducts tds on 20th april, you should deposit tds within 7th May to avoide interest.
Ankur Agrawal
(CS, CA Final)
(239 Points)
Replied 21 March 2009
for ass year...2009-2010....tds deducted in monthof march...can be deposited ...upto 31st may,,,,,(as per my knowledge)
CA Sakshi
(CA Practice)
(309 Points)
Replied 22 March 2009
| Originally posted by :Amit | ||
| " | Hello If you booked the invoice on 31-march, then you can deduct the TDS till 31-may Amit |
" |
Dear Amit,
Deduction entry is to be made by 31st March as its closing date. And One more thing if payment not made then you can deposit tax till 31st May otherwise on 7th April you have to deposit tax. However from A.Y. 2009-10 you can deposit tax till due date of your Income Tax return if the entry is passed on 31st March that is your liability to deduct TDS is 31st March. If suppose you deduct TDS on 15th march you have to deposit TDS before 31st March.
Amit
(Service)
(457 Points)
Replied 22 March 2009
Thx Abhishek
for updating me on ammendment.
One question - You said that if we deduct the TDS on 15th-March we have to deposit it before
31-March......... I think it should be before 07-Apr
Pl clarify me.
Amit
CA Sakshi
(CA Practice)
(309 Points)
Replied 22 March 2009
No dear you have to deposit tax till 31st March. Actually i am mistaken that its applicable from A.Y. 2006-07 retrospectively. If you deduct TDS within 1st April to 30th March you have to deposit TDS within 31st March. Option of depositing TDS till due date of IT return is for 31st March entries only.
Amit
(Service)
(457 Points)
Replied 22 March 2009
Ok
I was totally unaware on this ammendment
Thanks to share this valuable info in time.
That means on 31-Mar, I should deposit the TDS , deducted till 30-Mar.
Only thing is that for the last f.y. I have deposited the March TDS before 07-Apr..... and our CA didnt take any objection in his audit report............ quite surprising
Warm Regards
Amit
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
