Fall to deduct tds on salary every month

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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Dear Experts, we have not deducted TDS on salary from april 2015 to february 2016 however in march we have deducted the entire TDS and remit the same to govt on 12/4/2016 pls tell me weather any interest shall be levied or not if yes how much and why.... Thanx & Regard Mukesh

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 June 2016 No interest will be levied for salary TDS when full TDS made at the year end.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 Yes agree with Seetharaman sir, if in last quarter tds will deducted with no shortfall available in Annexure - II then no need to pay any interest for not deducting tds monthly.
But for advance planning you need to deduct tds monthly for only that reason where some times tds amount is more than salary amount.

Gokul Sharma

Gokul Sharma (Expert)
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14 June 2016 TDS on salary should be deducted at the time of payment of salary.

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 sorry 12/4/2016 was worngly typed the TDS payment was remit to govt on 12/5/2016, however i have deducted entire TDS on 31/3/2016 on credit. please let me know will interest arise or not if yes from 30/4/2015 to 12/5/2016 or from 31/3/2016 to 12/5/2016

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