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TDS Deduction related

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Querist : Anonymous

Querist : Anonymous (Querist)

30 August 2010 1. An assessee has deducted a tax on particular bill under relevant section before passing bill into parliament but paid later on after passing bills.

So whether my assessee has to pay tax in to exchequer at old rate or at new rate?

Would have it any seperate impact in a case where TDS has not been paid which was deducted in say april or may month but fails to pay before passing finance bill into parliament? and if i pay this amount after passing bill whether new rate or old rate are applicable?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

30 August 2010 It is not possible unless the assessee is not aware of the changes correctly, generally TDS rate and other amendment will be announced by Budget with some future date only which is beyond the Finance act passing date,like July,1 and Oct,1 so in such case the error will not arise, even the bill said April 1 onwards effect, further bill not passed by parliment the effect of changes will remain same up to the date of passing bill, any devition takes place after the act passing date

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