27 May 2014
I Have deducted TDS on 31.03.14 for payment being made on 07.01.14 for Professionals (194J). Then what will be the due date for payment of TDS along with late deduction interest for 3 months@1% p.m. Kindly suggest due date in this case.. (A) 7th April, or (B) 30th April.
With regards to this case, the due date was 7 February 2014. The interest shall be payable 1% for late deduction for three months. If you haven't deposited the TDS with the govt yet, then interest at 1.5% pm for another 2 months (april and May) shall be payable.
27 May 2014
Thanks Deepti ji & Nikhil ji.. But we have get Demand Intimation on this and in the justification report for said shows due that is 7th April which i can't understand why it shows it for TDS deduction on 31st March. Because due that for tax deduction on 31st March is 30th April.. Is there any specific clarification given by department for late deduction due dates.??
27 May 2014
as I told you before, because the due date was 7 february. you woould not have to pay further interest had you deposited the tax on 31 March itself. Now you need to pay interest at 1.5% pm from 31 march.
and I am sure that you have still not read the provisions of section 201.
27 May 2014
Sir i read sec 201 after your reminder.. but i deposit tax on 30th april. that's why demand for late payment(for 2 months-March & April) arises as per sec 201(1A).
CAclubindia
