Tds deduction
This query is : Resolved
14 March 2012
I have booked the invoice on 14/02/2012 & after 3 days dedcut tax @2% on 17/02/2012 made accordingly entry in books. In that case whether i have to pay interest on non deduction of tax at the time of bill booking date & at what rate. pls guide
14 March 2012
No it is not so. In any case you might be depositing the TDS by 07/03/2012 which is the due date for TDS to be deposited and in such a case there is no liability for interest.
14 March 2012
But in this case we were delayed to deduct tax on bill booking date which was earlier. In that case is interest applicable u/s 201(1A).
17 March 2012
very smart technical, if you can change the date fine otherwise interest may attract as per me
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