Tds deduction & late interest
This query is : Resolved
27 June 2012
Hi,
we have issued cheques various dates to a broker for commission. From june 2011 to march 2012 of Rs. 143000/-. we forget to deduct TDS from him and remit to govt. When should we deduct TDS from him and how to calculate late interest upto June 2012.
Pls clarify ........
thanks.
we have issued cheques various dates to a broker for commission. From june 2011 to march 2012 of Rs. 143000/-. we forget to deduct TDS from him and remit to govt. When should we deduct TDS from him and how to calculate late interest upto June 2012.
Pls clarify ........
thanks.
27 June 2012
If you want to claim the expense in the F.Y 2011-12 then you should deduct the TDS on 31st march 2012(back dated) and pay to govt on or before 30th september 2012 to reduce the interest cost.
If you want to claim the expense in the next year then you can deduct the tds when you want to deposit it to the govt.
If you want to claim the expense in the next year then you can deduct the tds when you want to deposit it to the govt.
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27 June 2012
your should pay interest on late depoisted of TDS @ 1.5per month from cheque issued to broker to tds depoisted.
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