Tds
This query is : Resolved
29 December 2011
bill booked in nov rs 20000. payt made in dec after deducting tds rs 19600.tds paid on 6th jan without paying any penal interest tds @ 2% of contractor. is this correct. even salary of profession of nov paid in dec after deducting tds @ 10%. tds paid on 6 jan. is this correct
29 December 2011
TDS required to be deducted at the time of bill booking or payment whichever is earlier.
Since bill was booked in November, TDS was required to be deducted in November itself and was to be deposited by 7th December.
You shall be liable to pay interest @ 1% from the date of bill to the date of actual deduction.
Since bill was booked in November, TDS was required to be deducted in November itself and was to be deposited by 7th December.
You shall be liable to pay interest @ 1% from the date of bill to the date of actual deduction.
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