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Tax deducted at source of contractor

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 April 2012 IF A COMPANY PAY ANY AMOUNT TO IT's CONTRACTOR AGAINST HIS WORK DONE AT ANY TIME,IS IT LAWFUL TO DEDUCT THE TDS AMOUNT AT THAT SPECIFIC TIME.SO,WHAT IS THE TIME LIMIT TO DEPOSIT TDS OF A CONTRACTOR.ANY PENALTY WILL BE CHARGE ON NOT DEPOSIT THE TDS BEFORE THE TIME LIMIT.
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CA. Sameer Kashikar

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CA. Sameer Kashikar (Expert)
18 April 2012 Time limit for paying interest is 7th of Next month

if no tax is paid late payment interest will have to be paid
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
19 April 2012 yes agree with expert

there are two ways to deduct tds when credited or paid
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
19 April 2012 Right said above...
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
20 April 2012 I agree with the expert's opinion
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