Amount is credited and tds is deducted but payment not made
This query is : Resolved
udaya chandran
(Querist)
18 October 2011
We Credited some amount and TDS is also deducted from that amount. TDS is paid within the time limit. But the Credited amount not yet paid. If is there any rule that once the TDS deducted from certain amount, that amount should be paid within 6 months or so? Example:
Rent Rs.3,00,000/- TDS is Rs.30,000/-
TDS of Rs.30,000/- deposited but the payment of Rs.2,70,000/-(3,00,000-30,000) not yet made.
Rent Rs.3,00,000/- TDS is Rs.30,000/-
TDS of Rs.30,000/- deposited but the payment of Rs.2,70,000/-(3,00,000-30,000) not yet made.
18 October 2011
There is no such requirement in the Income Tax Act.
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18 October 2011
sorry, i wrongly interpreted your question,,i agree with siddarth sir
18 October 2011
Vishal you have interpreted the question wrongly.
Udaya is asking about non payment of RENTAL and not non-payment of TDS.
He has mentioned in the question that TDS has been deposited.
The rental has not been paid.
Udaya is asking about non payment of RENTAL and not non-payment of TDS.
He has mentioned in the question that TDS has been deposited.
The rental has not been paid.
udaya chandran
(Querist)
20 October 2011
Thanks for the explanation Mr.Siddhartha.....
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