hey all.
the company is tendering the tds challan with in the due date but the cheque cleared on after the due date ,as crossed verfied by bank statement .
whether it is regarded as tds late payment .
11 Replies
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 06 August 2009
No, it is not late payment becoz tendering date is taking as payement date.
CA Guru M
(B.com, CA, CS)
(1552 Points)
Replied 06 August 2009
Yes I agree with Jyothi, Presentation of cheque to the bank (Subject to realisation) is Considered while determining the late payment if any.
CA Sandeep Thakur
(Managment Trainee)
(188 Points)
Replied 06 August 2009
okzz
but in that case the cheaque got bounced and than a freash cheqaue issued
then in that case this will be regarded as assesse in defualt..
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 06 August 2009
Yes then it is late payment.(in case payment after due date)
Dipak Kumar
(CA Final Student)
(44 Points)
Replied 06 August 2009
tds payments deatils plz send to me my email id
Sandeep Marathe
(CA Final)
(423 Points)
Replied 06 August 2009
Hi Sandeep,
Always keep in one thing in mind, if u r doing verification for tds then always consider the date stamped on the challan of tds payment. That date is releavent to decide whether it is late payment or within due date.
Regards
Tribikram
(Service)
(12 Points)
Replied 06 August 2009
Hi All,
If a company pays charges for transportation outward in cash/chq. without bill whether TDS u/sec.194C will be applicable or not. Kindly reply.
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