Tds deduction at last day of month

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This query is : Resolved

Navneet patidar (Querist)

17 January 2017 Sir if we deduct TDS at last day of month then the due date of depositing the TDS amount. As our software on calculating the Interest not consider the month in which tax deducted if deducted on last date of month so there is some provision for that ........

CA Suresh Jain

CA Suresh Jain (Expert)

17 January 2017 To be deposited by 7th of next month. For deduction in March from 1st march to 31st March, the TDS can be deposited by 30th April of the same Calendar year

Amol S Joglekar

Amol S Joglekar (Expert)

17 January 2017 To be deposited on or before 7th day of following month in which the TDS has been deducted.
Exception is 31/03....... this can be deposited till 30/04

CA Prashant Gupta

CA Prashant Gupta (Expert)

17 January 2017 it is irrelevant on which day of month you deduct TDS. You must deposit it till 7th of next month.
if TDS is deducted in March month then it will be deposited till 30 April.
your software is not calculating interest on last day that mean there is some problem with software. So please call software expert. otherwise if you deducted TDS on 30 Nov then you must pay it on 7 Dec else you will need to pay interest on it.

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