Tds return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2018 I have deposited TDS on 30th April-2018 but challan date is 2-May--2018.
TDS amount is around 5L.
Shall we liable to pay Interest panelty.
On Bank statement we can see that amount is debited on 10.30am
Please guide.

Expert : Anonymous

Expert : Anonymous (Expert)

25 May 2018 Please explain yourself... Deposited on 30th April and Challan date is 2nd May then How is Challan date is 2nd May...??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 May 2018 Some bank servers allow the online challan generation till 8 pm only. incase if more than 8pm it will go automatically next working day. stated query it seems paid on 10:30 in the night so it has taken the payment date on 2nd May (which is next working day( 1st May holiday))

So it may not possible to change now. my view is better to pay the interest for delay 3 months ( March/April/May)

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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25 May 2018 Bank gateway close by 8.00pm, so anything you pay it will go to Next day. You are liable to pay interest @1.5% from.the month of deduction to till payed month.if deduction is pertains to March you will be liable to pay 3 months interest.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2018 i have deposited TDs on 30th april 10.30am . i don't know how it shows date of 2nd may. online bank statement also shows time of 10.30am. please guide as it leads to heavy interest panalty

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 May 2018 Then it is serious issue with your bank or challan, check with your bankers first