When is tds is to be deducted
This query is : Resolved
06 June 2017
what will happen if th eexpenditure is booked without TDS on 31 March and payment is made in April after deducting TDS
CA R SEETHARAMAN
(Expert)
06 June 2017
If TDS Deducted in April paid before 30th April no interest need to be paid else interest applicable.
06 June 2017
Sir,
I book the expenses on 31. March and deduct TDS. Can I remit the TDS at the time of payment to party in May.what are the implications
I book the expenses on 31. March and deduct TDS. Can I remit the TDS at the time of payment to party in May.what are the implications
CA R SEETHARAMAN
(Expert)
06 June 2017
No it has to be remitted on or before 30th April. If TDS remitted in May 3 moths interest of 3% payable.
06 June 2017
Thanks sir. One more query. Can I book the expense without TDS on 31.3.17 and deduct the TDS at the time of making payment
CA R SEETHARAMAN
(Expert)
07 June 2017
No that is not possible.
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