Tds
This query is : Resolved
30 July 2015
If bill of april received in May month and i entered in books in month may and Tds deducted paid in the month of may but late( let 14-05-2014).
So in this case late payment of tds Interest Calculated from which date?
So in this case late payment of tds Interest Calculated from which date?
30 July 2015
TDS needs to be deducted on the date of payment or credit whichever is earlier. SInce the bill was received in May, booked in may, and TDS deducted and deposited in May the question of interest do not arise. The due date of deposit of this TDS was 07.06.2014 but it was deposited on 14.05.2014. So it was deposited well in time.
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