TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2010 Dear sir,

i have a doubt in TDS. from the recent amendment from july. if the TDS is not deducted one percent interest is payable from the date from tds deductible to date on which tds is deducted and 1.5% from the date on which TDS deduted to Date of payment of tds. i.e it is better to not deduct tds instead of deducting and non payment retaining? and another doubt we are deducted TDS in the month of April and paying in the month of august, is our company need to pay 1.5% or 1%? what percent of interest is applicable

please reply me as early as possible

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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03 August 2010 1st : good idea.

But, if you don't deduct TDS on the date of payment or credit then it will amount to failure of TDS deduction. In this case the payee's accounts will be settled & you have to pay TDS from your own pocket..

2. From April,10 to June,10 @ 1 % per month
& From July,10 to Aug,10 @ 1.5 % per month

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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03 August 2010 AGREED WITH MR. SUBHASH JHA.
IN THIS CASE YOU HAVE TO REVISE E-TDS RETURN ALSO FOR 1 ST QUARTER.

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Nirpendra Singh

Nirpendra Singh (Expert)
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03 August 2010 satisfied with mr jha

Message likes : 1 times

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