tds paid after 31 st may

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 sir what are consquence for depositing the payment after 31 st may and it is complusory for filling nill return of TDS

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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02 June 2010 If you have deducted Tax (other than salary)on the last day of financial year i,e 31st March, in that case last date for payment of Tax is 31st may. If you do not pay within time you have to pay interest and penalty for non payment of tax in time.

Secondly,expenditure will not be allowed in current year but it will be allowed in the financial year in which tax is paid.

Yes it is compulsority to file nil TDS Return

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 June 2010 NO IT IS NOT COMPULSORY TO FILE NIL TDS RETURN. IN MY COMPANY TDS RETURNS ARE FILED ONLY FOR QUARTER IN WHICH ANY TDS IS DEDUCTED. THERE HAS NOT BEEN ANY PROBLEM.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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02 June 2010 1. Delay in remittance of TDS attracts interest and penalty.

2. Expenditure is allowed in tax computation, if it is paid before due date of filing return of income.

3. No need to file Nil Return.