Asking about tds
This query is : Open
manish sharma
(Querist)
02 February 2015
Sir,
Bill Issued on 5/4/2014 & Tds Deducted After A month i.e 05/05/2014, TDS has Deposited on 07/06/2014.
Is There any TDS Penalty will be Levied on Assesse??
Is it Valid to Deduct TDS After A month From Recording of Entry??
Bill Issued on 5/4/2014 & Tds Deducted After A month i.e 05/05/2014, TDS has Deposited on 07/06/2014.
Is There any TDS Penalty will be Levied on Assesse??
Is it Valid to Deduct TDS After A month From Recording of Entry??
03 February 2015
Tax is required to be deducted on date of booking or payment whichever is earlier. In the given case, it is mentioned that bill is issued on 05/04/2014. If bill is booked in april and tax is deducted in may then it will lead to delay in tax deduction and penal interest on delayed payment is attracted.
If bill is booked in the month of may 2014, then there is no delay because bill is booked in may and tax is deducted in may.
If bill is booked in the month of may 2014, then there is no delay because bill is booked in may and tax is deducted in may.
manish sharma
(Querist)
14 February 2015
Dear sir..what is percentage of penal interest to be Charged on the assesse??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
