Tds
This query is : Resolved
Shubham Gupta
(Querist)
17 December 2015
Hello Experts,
My Question is if the bill date is 30/7/2015 but it has been entered in books on 8/8/2015 and TDS deposited on 7/9/2015. Does any Tds Interest liability occurs?
Is TDS liability occurs on 7/8/2015 because bill date is 30/7/2015
My Question is if the bill date is 30/7/2015 but it has been entered in books on 8/8/2015 and TDS deposited on 7/9/2015. Does any Tds Interest liability occurs?
Is TDS liability occurs on 7/8/2015 because bill date is 30/7/2015
Nikhil Kaushik
(Expert)
17 December 2015
date of bill is not relevant...when it is entered into books as debt is relevant. so ideally there should not be any interest on this transaction
Message likes :
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18 December 2015
TDS to be deducted on the date of payment or credit whichever is earlier. In the given case you have deducted and deposited the TDS in due time. You booked bill on 8/8/15 so your due date of depositing the TDS was 7/9/15. You have deposited in due time. So no interest payable for late deposit of TDS.
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