Due date for payment of TDS????

759 views 2 replies

Hi,

am in confusion regarding this, please clarify me.

As per income tax provisions, tds deducted should be paid to the credit of CG within 7 days from the end of the month in which such deduction is made.

However tds made on last day of the financial year followed can be paid to credit of CG within two months from the close of F.Y........this is what i know.

But during the course of our audit of a Limited company, one of our colleague says that closing balnce of tds in the year end can be paid to on or before june 30th, without any interest.that means irrespective of the month in which such balance of tds lying in the closing balance was made, it can be paid on or b4 june 30 without any interest.

i have gone through 3 wel known books but cant find this provision.

please clarify me  whether ny of such provision exists?

Replies (2)

There is no such provision.

further Tax deducted on last day of any previous year shallbe credited to CG account within 2 months but tds on salary shallbe deposited upto 7th april .

2 months time is given not on all entries posted on the last day of the financial year. Only due entries passed in the books through journal entries are allowed to be paid with in 2 months. If any payment is made to deductee on the last day of the financial year, then TDS needs to be remitted on or before 7th of April of next financial year.

 

Regards

Ravindra

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details