18 October 2011
The applicability of rounding of the tds amount other than salary to the nearest ten is valid or not?
In the case of tds other than salary, the amount has been deducted to the nearest of ten and remitted, which leads to short deduction and remittances of tds, for e.g. an amount of 544.00 has been rounded of to 540.00 and remitted. The accumulation of these amount may comes to quite a big amount all over the year..
18 October 2011
No, Round off of TDS Amount is not permissible. I have seen demand notice have been raised for short deduction/ payment. In the demand notice it was mentioned that rounding off difference upto Rs.100 was waived off.
CAclubindia
