TDS
This query is : Resolved
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24 July 2020
Dear Sir,
if April 2020 Salary paid in May 2020 and deducted tds then what is due date of TDS payment, is it 7th May 2020 or 7th June 2020
Please reply
if April 2020 Salary paid in May 2020 and deducted tds then what is due date of TDS payment, is it 7th May 2020 or 7th June 2020
Please reply
24 July 2020
TDS due date is 7th june. As per sec 192, TDS to be deducted only on actual payment of salary and not on accrual basis.
25 July 2020
Dear Sir, Thanks for your reply, if we paid tds on 09/06/2020 delay of two days then interest need to be calculate or not
25 July 2020
Yes, interest would attract at 1.5% per month from the date of deduction to actual payment.
Hence if you select the TDS deduction date as 31.05.2020, then interest would be 3%.
Hence if you select the TDS deduction date as 31.05.2020, then interest would be 3%.
25 July 2020
Sir, Thanks but interest rate will 9% pa if paid within 30.06.20 as per notification no.35/2020
25 July 2020
Sir, Thanks but interest rate will 9% pa if paid within 30.06.20 as per notification no.35/2020
pls revert
pls revert
25 July 2020
Yes rightly said, the interest rate being 0.75% per month.
Hence, if you pay after 2 days, the interest rate turn out to be 1.5% (0.75+0.75).
Hence, if you pay after 2 days, the interest rate turn out to be 1.5% (0.75+0.75).
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