TDS ON SALARY-PAID ON DUE BASIS

Sonam Seth Khanduja (Chartered Accountant) (112 Points)

07 June 2010  

IF A COMPANY CREDITED  SALARY IN THE ACCOUNT OF ITS DIRECTOR DURING THE YEAR AND THE PAYMENT  FOR IT HAS BEEN MADE IN THE NEXT  YEAR. THEN TDS WILL BE DEDUCTED IN WHICH YEAR .FOR EXAMPLE :- IF TOTAL SALARY DUE IS RS. 5,00,000/- FOR A.Y. 2010-11.  THEN TDS IS RS.52,530/- (IF DIRECTOR IS FEMALE)

WHEN TDS IS TO BE DEPOSITED ?????  IN A.Y. 2010-11 OR IN A.Y. 2011-12.

WHICH A.Y. WILL BE  MENTION IN CHALLAN????

IF THE COMPANY DEDUCTED AND PAID TDS ON DUE BASIS THEN WHAT WILL BE THE CONSEQUENCES OF IT.