Tds for f.y. 10-11 now deducted, int ?
This query is : Resolved
19 May 2012
Hello everyone,
one of our client has made payment of rs.100000 as professional fees on 31/03/2011 but has not deducted the tds.
they now in May 2012 want to deduct the TDS of Rs.10000
1. kindly let me know the interest. i think it will be 1% pm on late deduction.
2. also let know we should select a.y. 11-12 or a.y. 12-13 in challan while making payment of TDS ?
3. should it be treated as prior period item ?
one of our client has made payment of rs.100000 as professional fees on 31/03/2011 but has not deducted the tds.
they now in May 2012 want to deduct the TDS of Rs.10000
1. kindly let me know the interest. i think it will be 1% pm on late deduction.
2. also let know we should select a.y. 11-12 or a.y. 12-13 in challan while making payment of TDS ?
3. should it be treated as prior period item ?
24 May 2012
1. The interest shall be payable @ 1%.
2. AY 11-12 shall be mentioned.
2. AY 11-12 shall be mentioned.
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