Tds deduction
This query is : Resolved
31 January 2012
We are paying Advertisement expenses from 01.08.11 to our party & we have not deducted TDS till now but in the current month also we are paying the same party & now the total is going above the threshold limit & now we are deducting TDS on whole amount i.e. from 01.08.11 to Jan'12. So my question is we need to pay interest on delayed deduction of TDS on the earlier payment or not?
31 January 2012
No. TDS deductible only the threshold limit exceeds, now the limit is exceeding. you can deduct now and pay TDS only. no need to pay the interest
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