Tds
This query is : Resolved
Varun Chouhan
(Querist)
09 August 2014
Rent expense for the month of march Rs 100000
Invoice date 1/1/2014
booking date 1/1/2014
but on booking date tds payable is not credit
ie entry passed is
rent Dr 100000
to party 100000
on 15/1/2014
entry passsed is
party Dr 10000
to Tds-rent 10000
and the same is paid by 7/2/2014
is it considered as late deduction of tds under tds provisions
payment to party is made after 7/2/2014
Rupesh Jain
(Expert)
09 August 2014
it is paid by you with the due time it is not late deposit
09 August 2014
Since it is paid on 7th February, which is the due date, no interest for late deduction needs to be paid.
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