Due Date of TDS Deposits
This query is : Resolved
29 May 2009
dear sirs,
we are a partnership firm. Pl. clarify on following points :
(A) We know that every month whatever TDS deducted (on whatever nature of exp), has to be paid on 7th of next month. This is true for the month of Apr-08 to Feb 09.But suppose, we deducted TDS on 31.3.2009 (on whatever nature of exp)by passing a J/V on 31.3.09, then at what date this TDS amt. has to be deposited in bank-on 7.4.2009 OR its due date is 31.5.2009 ? (B) If we deducted TDS in various dates of March 09 (not on 31.3.2009), then what is the due date for depositing this TDS ? (C)If in both above cases, due date is 7.4.2009 and we deposit this TDS on 30.5.2009, will the relevant expense be disallowed by I.T.Dept ? (D) What is I.T.Dept's crieteria for disallowing such expenses having implications of TDS ?
thanks in advance.
anckoor
we are a partnership firm. Pl. clarify on following points :
(A) We know that every month whatever TDS deducted (on whatever nature of exp), has to be paid on 7th of next month. This is true for the month of Apr-08 to Feb 09.But suppose, we deducted TDS on 31.3.2009 (on whatever nature of exp)by passing a J/V on 31.3.09, then at what date this TDS amt. has to be deposited in bank-on 7.4.2009 OR its due date is 31.5.2009 ? (B) If we deducted TDS in various dates of March 09 (not on 31.3.2009), then what is the due date for depositing this TDS ? (C)If in both above cases, due date is 7.4.2009 and we deposit this TDS on 30.5.2009, will the relevant expense be disallowed by I.T.Dept ? (D) What is I.T.Dept's crieteria for disallowing such expenses having implications of TDS ?
thanks in advance.
anckoor
30 May 2009
Due date of 31.05.2009 is only on TDS deducted on 31.03.2009 otherwise due date is 7.4.2009 for dates.
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