Tds late deduction
This query is : Resolved
REMESH RAJ R
(Querist)
31 January 2014
There is some confusion related with the deduction of TDS. Suppose I have deducted tds and paid the same 0n 07-09-2013.can i claim the same in december 2013.
AVTAR SINGH
(Expert)
31 January 2014
Date of deduction is important. If it was deducted in quarter ending Sept.2013, it has to be mentioned in the return filed upto 30.09.2013. In next quarter it is not possible.
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REMESH RAJ R
(Querist)
31 January 2014
if i show the deduction in the next quarter is there any problem with late deduction
AVTAR SINGH
(Expert)
31 January 2014
You will be liable to pay interest.
Rate of interest w.e.f 01-07-2010 :
◾From the date when TDS was deductible till date of actual deduction, rate of interest is 1% p.m.
◾For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
Rate of interest w.e.f 01-07-2010 :
◾From the date when TDS was deductible till date of actual deduction, rate of interest is 1% p.m.
◾For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
31 January 2014
Hi
Now from this quarter you can adjust earlier quarter TDS deduction also.
Tx
Now from this quarter you can adjust earlier quarter TDS deduction also.
Tx
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