TDS payment due date
This query is : Resolved
08 May 2020
Hi All,
If X is a service vendor Invoice date is 1st January 2020 and due to some issue we have not paid them payment, and paid 5th May 2020 and deducted TDS Rs.5000/- shall we pay interest on TDS, because Invoice date is 1st January 2020.
Thanking you
Kumar
If X is a service vendor Invoice date is 1st January 2020 and due to some issue we have not paid them payment, and paid 5th May 2020 and deducted TDS Rs.5000/- shall we pay interest on TDS, because Invoice date is 1st January 2020.
Thanking you
Kumar
08 May 2020
Yes Interest is applicable for 5 months. Jan to May @1.5% per month.
08 May 2020
Ok Sir, but we paid in May 2020 till we need to pay interest. In case of Arrers of Salary also same rule applicable.
08 May 2020
Yes interest till May for all 26Q payments. TDS on Salary is based on payment basis and not on accrual basis.
09 May 2020
Tds compliances apply bill or payment whichever is early tds to be deducted above case tds to be done on January interest applicable for 5 months.
09 May 2020
Yes. TDS needs to be deducted either at the time of booking & credit any liability to the recipient or at the time of payment whichever is earlier.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
