TDS IN THE MONTH OF MARCH
This query is : Resolved
harpal singh
(Querist)
04 June 2008
DATE OF DEPOSIT OF TDS DEDUCTED IN THE MONTH OF MARCH
04 June 2008
if amount is paid in march -then 7 /4
if provision is made- then 31/5
if provision is made- then 31/5
Tarun Gupta
(Expert)
05 June 2008
The Due date for DEPOSIT OF TDS DEDUCTED IN THE MONTH OF MARCH as follow:
If Payment is made in the month of March than due dt is 7th April.
If only credit the account of party or Provision was made on the 31st march than the dt is 31 st May
regards
If Payment is made in the month of March than due dt is 7th April.
If only credit the account of party or Provision was made on the 31st march than the dt is 31 st May
regards
05 June 2008
Recently there is change where provisions made TDS can be paid within the due date for filing the return which is now September 30th.
05 June 2008
Recently there is change where provisions made TDS can be paid within the due date for filing the return which is now September 30th.
Shyam Lal Naik
(Expert)
07 June 2008
The due date is 7th Apr/31st May as clarified in earlier answers.
The earlier provision was, if not paid within the above mentioned time limit, expenses were disallowed in the year of deduction and allowed in the year of actual payment.
The recent changes has given some relief with respect to disallowance for tds deducted in the month of March. As per the ammended provision, march tds can be deposited till due date of filing return of income and if done so, the expenses will be allowed in the year of deduction itself.
It may please be noted that, if tds is remitted after 7th Apr/31st May, penal interest at applicable rate has to be paid.
The earlier provision was, if not paid within the above mentioned time limit, expenses were disallowed in the year of deduction and allowed in the year of actual payment.
The recent changes has given some relief with respect to disallowance for tds deducted in the month of March. As per the ammended provision, march tds can be deposited till due date of filing return of income and if done so, the expenses will be allowed in the year of deduction itself.
It may please be noted that, if tds is remitted after 7th Apr/31st May, penal interest at applicable rate has to be paid.
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