payment of tds
This query is : Open
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
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
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
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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