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payment of tds

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(Querist)
20 January 2011 If a bill, due for payment which is liable to TDS, has been credited in books on 10th July whereas the tax has actually been deducted at source on 16th august and correspondingly deposited before 7th September!

My query is whether it would be said to be NON COMPLIANCE OF LATE DEDUCTION OF TAX OR NON COMPLIANCE OF LATE PAYMENT OF TDS AS WELL?

PLEASE REPLY
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Bimal Thacker

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Bimal Thacker (Expert)
20 January 2011 Yes, and in your case interest for one month to be payable.Actual deduction date should be 10th July and payment date should be on or before 7th August. as the same in your case paid on 7th july one month interest is applicable
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
20 January 2011 yes it will be non complliance as you shouldl have booked TDS while passing the entry in the bookes.
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prateek

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prateek (Querist)
22 January 2011 does it implies two non compliances?
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