Tds notice for show cause for default u/s 201/(1)/206c(7)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2011 I just want to ask one thing I made credit entry of Intt. paid on O/s Loan on 31.03. and deduct TDS. The last date of deposit TDS is 31st of May. We deposit the TDS amount well in-time as on date 28th May in cash. But Now we received notice for default of Tax Deposit and liability to pay Intt. for Two Months. Why?
Please Clear Book Entry or Cash Deposit.
I just read that whether we have not made payment to party we have to select otherwise in deduction detail and deposit detail book entry. But when I choose book entry how I will fill Challan No., BSR Code etc. Please Clear....

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 December 2011 1st of all understand the concept of paid by book entry or cash deposit.

Paid by book entry means TDS was deducted on amount credited. Say you book a bill and deduct TDS on 31st march, due date in that case was 31st may.

Paid by cash means you deducted TDS on actual payment and not on booking the bill. Say you paid a certain amount and deducted TDS on the same. In that case due date was 7th april.

This has nothing to do with payment of TDS. It is related to payment to party.

So you need to revise your return by just selecting paid by book entry instead of Cash Deposit.

But from now on this problem will not be faced as consolidated due date for payment of TDS for month of march now is 30th april.

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