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TDS query on provision made as on 31st march

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This query is : Resolved

Dhaval Desai (Querist)

22 May 2009 When tax is deducted and amount on credited on the account of the recipient as on the last date of the account in year (31st March)

when is the due date of deduction of TDS?

pls provide me the relevant circular/notification

is it enxtended upto 30th september

Manikanta Raju CA,CWA,(CS)

Manikanta Raju CA,CWA,(CS) (Expert)

22 May 2009 If he made provision on the last day of the accounting year, he can deposit the TDS so deducted on or before 31st may that is 2 months from the end of the month.

However as per amendment made, he can deposit the entire TDS payable for the month of march (not only on the last day provisions/payments) before the due date for filing of return of income.

in such a situation assesse can escape from disallowance u/s 40a(ia), he is liable to pay interest for the default period that is from may 31 to the date of payment.

post your mail ID i will send you the notification

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