Late payment of tds on salary

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sahil khalifa (Querist)
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09 September 2017 Hello,

I have read many articles on internet for late payment of tds,but i didnt get my answer.
My query is for late payment of tds on salary.

if a company pay salary on 01-09-17 for the month of August 17 & TDS paid on 08-09-17 , so interest for late payment is calculate for 2 months (aug & spp)
or for only 1 month (sep)? because actually salary is paid on 01-09-17.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 September 2017 Salary TDS is on payment basis so no interest payable for remittance on 8th September. TDS can be remitted up to 7th October.

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sahil khalifa

sahil khalifa (Querist)
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11 September 2017 Thank you so much for your quick reply sir,

Sir will you please give me reference of Income tax section for the same.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 September 2017 Section 192. See the link for more information.
8. Depositing of TDS deducted: The employer has deposit the TDS which was deducted from the Salaries. The due date for the same are, for the month of April to Feb of the Financial year the due date is 7th of the subsequent month in which the TDS was deducted.
https://taxguru.in/income-tax/tds-salaries-procedure-deduct-tds-compliances.html

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sahil khalifa

sahil khalifa (Querist)
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11 September 2017 Thank you so much Sir...

Rajesh Dua

Rajesh Dua (Expert)
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24 October 2017 Yes in this case no Interest is attracted as answered by CA RS.

sahil khalifa

sahil khalifa (Querist)
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03 November 2017 Dear Experts,

1). TDS CPC had raise a demand for Interest on late payment of tds.
If tds on salary is on payment basis then why TDS CPC has raise demand ?

If company pay Salary for the month of AUG-17, on 1st SPT-17 & Pay TDS on 8th SPT-17
Accounting entry for the same is done on 31st AUG-17.

Please Help....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 November 2017 No interest can be levied contest it.

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