GUYS...
IS THERE ANY LOGIC OF WHY TDS RETURN FILED QUARTERLY ??
AND
WHY THE DATE FOR LAST QUARTER'S RETURN HAVE A TIME GAP OF 1.5MONTH INSTEAD OF 15 DAYS??
.
.
pls only logical replies needed....
1 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 03 January 2012
If a company is large, and if the TDS return is to be filed only once yearly, imagine the load of entries to be recorded in TDS software. It will take a month for one employee. Filing TDS return quarterly will reduce the load of entries been filed and its easier for the company to manage, and even NSDL to process the data.
Most companies try to finalize trial balance by the end of April, so IT has given some time off to file TDS returns.
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