Tds payment by partnership firm
Querist : Anonymous
is tds payment to be done on monthly or quarterly basis by a partnership firm?
partnership firm was formed last financial year as e-retailer
they are deducting tds on monthly basis but payment is made on quarterly basis. Is it right way to do?
1. Tax is Deducted/Collected by a person (Not being an office of Government) [Challan No./ITNS 281]
> Where income or amount is paid or credited in the month of March: Tax Should be deposited by April 30
> Where income or amount is paid or credited before March 1 : Tax Should be deposited within 7 days from the end of the month in which tax is deducted
In Your Case,
1. TDS payment is to be done on Monthly basis but you are depositing TDS on quarterly basis is wrong.
So, you are liable for Interest
Thanks.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
