Interest on late deposit of tds
This query is : Resolved
SHIV KUMAR AGARWAL
(Querist)
27 January 2012
Sir,
I have received notice from TDS dept for payment of interest on late deposit of TDS for financial year 2009-10.
I hade deposited TDS on 29.05.2010 on the amount credited at the end of financial year i.e. 31.03.2010
As per details provided by income tax dept, that the amount credited at the end of financial year i.e. 31.03.2010, you are
liable to deposit TDS amount by 07.04.2010.
Hence, you have made payment of TDS by 2 months late and liable to pay interest @ 2%
I think the due date of deposit of TDS in FY 2009-10 on credit amount at the end of FY 2009-10 was 31.05.2010.
Please let me know, when the rule has changed and what reply should I give to I. Dept.
Thanks
Shiv Kumar Agrawal
I have received notice from TDS dept for payment of interest on late deposit of TDS for financial year 2009-10.
I hade deposited TDS on 29.05.2010 on the amount credited at the end of financial year i.e. 31.03.2010
As per details provided by income tax dept, that the amount credited at the end of financial year i.e. 31.03.2010, you are
liable to deposit TDS amount by 07.04.2010.
Hence, you have made payment of TDS by 2 months late and liable to pay interest @ 2%
I think the due date of deposit of TDS in FY 2009-10 on credit amount at the end of FY 2009-10 was 31.05.2010.
Please let me know, when the rule has changed and what reply should I give to I. Dept.
Thanks
Shiv Kumar Agrawal
CA. RAGHAV GARG
(Expert)
31 January 2012
Shiv Kumar Ji,
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
CA. RAGHAV GARG
(Expert)
31 January 2012
Shiv Kumar Ji,
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
CA. RAGHAV GARG
(Expert)
31 January 2012
Shiv Kumar Ji,
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
Dont worry you are right about the provisions of TDS
Actually the Thing is, you had filed wrong return
You have filed your return stating that you have paid otherwise then by book entry and in that case you shall deposit such amount by 30th of March.
You need to revise your Return stating payment wass through Book Entry.
For Any Help
Contact me at ca.raghavgarg@gmail.com
M 09812220035
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