if an private ltd company has not paid the tax deducted to govt for 6 months (from apr to sep 2012) , and now he want to pay the same online whether he required to make monthly payments or quarterly payments or lumsum payment for six month?
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Delayed(late) tds to be paid on monthly or quarterly basis
Replies (5)
can pay the same in lump sum..
The company has a choice that is, it can pay the TDS including interest for delayed payment of TDS in monthly or quarterly but not in lumpsum for the entire six months.
Accordingly to my knowledge, one should pay it monthly rather than quarterly given a chance to do so to avoid tedious work of correcting the TDS return, if any.
For the last six months company may pay the TDS with interest in lump sum and file the TDS return. In future, to avoid interest liability, it has to deposit the TDS on monthly basis by 7th of next month.
Sir Bansal is right
It would be in your interest, to pay interest and penalty on monthly basis only. It helps in matching returns and helps in avoiding stupid TDS assessment notices!
Also, in case the TDS returns have not been filed, please provide for the 234E penalty too.
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