Kumar Gaurav (Going...to be C.A soon...) (1624 Points)
25 June 2010hello all
if we booked a entry in books on dated 28.05.10 as follows:
Rent Dr. 40K
Party Name Cr. 40K
Then make a payment entry on dated 05.06.10 as follows:
Party Dr. 40K
Cash/Bank Cr. 36K
TDS Payable Cr. 4K
My query is that tds deposition due date would be 07.06.10 (on credit) or it would be 07.07.10 (on payment), whichever is earlier as per law.
also let me know last date for TDS deposition on salary???
Thanks ! ! !
Amir
(Learner)
(4016 Points)
Replied 25 June 2010
Hi kumar
DUE DATE FOR DEPOSIT OF TDS WILL BE 07th JUNE in ur example.
Due date for deposit of TDS on salary - within 7 days from the end of the month in which deduction is made. TDS on salary is deducted on payment basis.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 June 2010
TDS provisions are not followed in your entry.
TDS except on salary is deducted due or payment basis whichever is earlier.
The entries should be like
Rent A/c ....................................................Dr. 40
To TDS Payable on rent 4
To Party A/c 36
Party A/c .................................................Dr. 36
To Bank A/c 36
and TDS should be deposited till June7, 2010
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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