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TDS Under Sec 194B

SHIV KUMAR (Co-Founder of Sublime Associates) (208 Points)

05 June 2022

If I conduct any game and winning prize is above than 10000. And I deduct TDS on same.Can I file deposit challan same day or after the quarter.

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18 Replies

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 05 June 2022

On 7th of month following the month in which TDS deducted.

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CA Raj Doshi (Practising CA) (8903 Points)
Replied 06 June 2022

You need to deposit before 7th of the following month. which also means you can deposit on the same day as well.

2 Like

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 06 June 2022

You can pay tds from the date of deduction to the due of tds.

Hence you can pay the tds on the same day also

2 Like

MPR Sanjay Kumar (3101 Points)
Replied 06 June 2022

For instance ,if IAM deducting TDS of salary my employee TDS amount is RS 5000 . when should I have to deposit this 5000 to government and file the TDS?

why the TDS is filing of quarterly basis can I file TDS monthly basis??

could you please summarize the TDS concept filings

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 June 2022

Suppose you deduct TDS on 5 may then you have to deposit before 07 June and you can't file monthly TDS return .

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MPR Sanjay Kumar (3101 Points)
Replied 06 June 2022

Thanks CA Rashmi mam

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 June 2022

Welcome............ My Peasure............

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MPR Sanjay Kumar (3101 Points)
Replied 06 June 2022

For April ,May and jun TDS amount I have to file July 7 th ??? here deposits means payment mam??

is there any depositting process separate and a payment processing is separate in TDS?

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 June 2022

Yes, You have to made payment/deposit for april on 07 may, for may 07 june, for june 07 july .

Deposit and payment are same thing.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 06 June 2022

Tds can be paid through challan no.281 from the date of deduction to till the due date of payment.

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MPR Sanjay Kumar (3101 Points)
Replied 06 June 2022

Thanks CA Rashmi Gandhi mam and Eswar sir

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 June 2022

Welcome............ My Peasure............

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 06 June 2022

Due date for deposit/ payment of tds can be far away from the deduction. Few do payment on the same day of deduction and many do it a single payment for a month for a particular section

1 Like