17 October 2009
Dear Sir/s, Can u Tell me If I Deduct TDS on 30th or 31st of any month and after 31st,When I have to deposit TDS in Maximam time limit?
and also Can I File 07-08 and above ETDS return even I have filed all qtrly returns from 2008-09 till last qtr.?
18 October 2009
Tds amount on the transaction, which attracts tds provision, have to be paid with in seven days from the end of the said period in which the trasaction occur. Ex. In relation to the month of february the tds deducted in the month of february have to be paid on or before 7th of March.
In relation to the month of march if any transaction which occur on the last day of the month of march it has to be paid on or before 31st May. Ex. If rent payable is creidted to the party account or paid on the 31st day of the month of march have to paid on or before 30th may.
Transaction which attracts tds occured before the last day of month of march i.e up to 30th March have to be paid on or before 7th of April only.
ETDS returns have to be filed quarterly on before 15th day of the month after the end of the quarter. Ex. April to June quarter the due date is 15th of July. Filing of quarterly returns is compulsory as we need to quote the quarterly return acknowledgement number in the certificate to be given to the deductee and same is used in information provided to the assessee by the department in form 26AS.
Tds challan contains only the details of amount paid as tds under particular section but it does not contain the name of party on whose behalf the tax has been deducted and paid to the government.
18 October 2009
Dear Sir/s, Can u Tell me If I Deduct TDS on 30th or 31st of any month and after 31st,When I have to deposit TDS in Maximam time limit?
and also Can I File 07-08 and above ETDS return even I have filed all qtrly returns from 2008-09 till last qtr.?
CAclubindia
