tds on salary
This query is : Resolved
CMA Ramesh Krishnan
(Querist)
25 January 2009
In salary tds we are accounting tds in last day of the month in provison but payment made in next month i.e 10th in this case tds payment date is whether the same month 7th or next month 7th?
In salary tds we are accounting tds in last day of the month in provison but payment made in next month i.e 10th in this case tds payment date is whether the same month 7th or next month 7th?
K V Subba Rao
(Expert)
25 January 2009
I understand from your Query,for example, Salary due for Apr 08 is disbursed on 10th May 08.
You would like to know whether due date for TDS remittance is 7th May or 7th Jun
In case of TDS, date of credit or payment whichever is earlier is reckoned for TDS remittance due date.
Since salary accrual for Apr 08 is 30th Apr 08, I opine that due date for TDS remittance is 7th May 08
You would like to know whether due date for TDS remittance is 7th May or 7th Jun
In case of TDS, date of credit or payment whichever is earlier is reckoned for TDS remittance due date.
Since salary accrual for Apr 08 is 30th Apr 08, I opine that due date for TDS remittance is 7th May 08
25 January 2009
Section 192 says tax is to be deducted monthly at the time of payment. So if salary is paid on 10th,tax is to be deducted on 10th and TDS should be remitted on 7th of next month.
K V Subba Rao
(Expert)
25 January 2009
On a reconsideration of issue, I modify my above observation and agree with Sri Warrier that in respect of Salary for Apr 08 paid on 10th May 08, TDS should be remitted by 7th Jun 08
Also visit https://www.caclubindia.com/experts/experts_message_display.asp?group_id=28726
Also visit https://www.caclubindia.com/experts/experts_message_display.asp?group_id=28726
O.D.SHARMA
(Expert)
25 January 2009
Dear,
There are two options.If u are crediting salary in the month end ,Then u have to make tds payment on the 7th of coming month.If there is no credit.u pay on the day of salry & then TDS is on other 7th of the month.
There are two options.If u are crediting salary in the month end ,Then u have to make tds payment on the 7th of coming month.If there is no credit.u pay on the day of salry & then TDS is on other 7th of the month.
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