Late booking of tds
Querist : Anonymous
However, Mr B does not book TDS when payment does not exceed.
TDS is booked when payment increases the thresh hold limit, and TDS is deducted on the whole amount starting on first day.
Does interest on late TDS arise?
As TDS liability arises only when the limit is crossed.
Querist : Anonymous
on 16-APril Professional fees is paid of Rs.20000. Here TDS is not BOOKED.
However on 16-May professional fees is paid of Rs.60000, here TDS is credited with 8000 (20000*10% and 60000*10%)
Does interest arise on late booking of TDS oF 16-April?
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