Due date of pmt of tds deducted on 31/03 ?

This query is : Resolved

CA Abhishek Singh (Querist)
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01 November 2010 hello friends,

i read in textbook that due date for payment of tds for preceeding month is 7th, and for entries made on 31/03 due date is 31/05.

practically many company will pass entries of entire month TDS on 31/03 to take advantage of above provision.

our client which deducted TDS on various dates in the month of march-10 made payment on 31/05. Are they liable for interest ? & what if entry for tds of entire month is passed on 31/03 ??

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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02 November 2010 Best way to avoid interest & penalty..... enter all the TDS due entries on 31/03.

But remember... if the incidence of TDS (i.e payment date) is before 31/03, the interest will have to paid.

Further from next FY TDS for entries f 31/03 will have to be paid by 30/04.

Pankaj Jhawar

Pankaj Jhawar (Expert)
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02 November 2010 Only provision entries of TDS made on 31 March can be paid upto 31 May, all other TDS is required to be paid on 7th of the next month