About Tds
This query is : Resolved
23 October 2010
i want to know if we use exemption limit50000 as we entered bills from April to October & labour amt exceeding50000 in october & we deduct tds @ 1% in case of individual500 tell me that we have to deposit tds with interest on tds late deposit or not
CA Navin Jain
(Expert)
23 October 2010
Applicability of tds would be arise when thrash hold limit is crossed,
23 October 2010
YOU BECOME LIABLE TO DEDUCT TDS IN THE MONTH OF OCTOBER. IF YOU DEDUCT TDS IN OCTOBER AND PAY IT ON OR BEFORE 7TH OF NOVEMBER NO INTEREST WILL BE PAYABLE BY YOU.
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