Need some clarification
This query is : Resolved
Guest
Guest
(Querist)
24 May 2012
Dear Sir,
If suppose we have issued a cheque to a company for their services which they have rendered to us & we as a company only deduct TDS, however, while giving the cheque to them we do not deduct the TDS but give them the entire pmt. Now suppose they have another pmt which we need to give them after 2 months, so can we deduct the TDS now for the 1st pmt + 2nd pmt that we are making???
Will there be any interest charged to us for not charging them TDS on their 1st pmt??
Say suppose we have not even entered the entry in Tally as well, when we made the 1st pmt, will we still be paying interest??
How much is the interest rate for making late pmt of TDS?
If suppose we have issued a cheque to a company for their services which they have rendered to us & we as a company only deduct TDS, however, while giving the cheque to them we do not deduct the TDS but give them the entire pmt. Now suppose they have another pmt which we need to give them after 2 months, so can we deduct the TDS now for the 1st pmt + 2nd pmt that we are making???
Will there be any interest charged to us for not charging them TDS on their 1st pmt??
Say suppose we have not even entered the entry in Tally as well, when we made the 1st pmt, will we still be paying interest??
How much is the interest rate for making late pmt of TDS?
24 May 2012
Yes you have to pay the interest on delayed TDS Remittance, which is 1.5/Month. Tally entries doesn't matter here.
On the second payment also you have to deduct the TDS now.
On the second payment also you have to deduct the TDS now.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
