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Tds deduction

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(Querist)
28 December 2013 We have booking Brokerage Ch. on Daily Basis But deducting TDS on monthly basis and paid that on time, is there any liability for interest for late deduction of TDS.

as per Act it should be deducted payment or credit which ever earlier.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
28 December 2013 Dear Ved

Whatever Tax you have deducted during a whole month ( Credit basis) is required to be paid on or before 7th of subsequent month. Then, there is no question of late deduction of TDS.
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Bimal Thacker

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Bimal Thacker (Expert)
28 December 2013 Tax is to be deducted on the date of payment or credit whichever is earlir, in your case there is late deduction and interest is applicable (as per FAQ in TRACE site)
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