Asit Panda (Accountant) (159 Points)
26 June 2013What is the last date of deposit T.D.S. amount deducted by the Employeer for the Financial year 2012-13.I mean for an ex:
SBI deducted TDS Rs. 20000 from pension holder A/c for the financial yr 2012-13. What is the last date of deposit this TDS amt into Income Tax department.
Thanking You
Ankit Singla
(B.Com (Hons.), CA)
(88 Points)
Replied 26 June 2013
Due date for deposit of tds is 7th of next month for the month in which tds is deducted except for the month of March due date for which is 30th April.
Interest @ 1.5 % p.m. will be charged, from date of deduction to date of deposit, for non-deposit of deducted tds within due date.
Interest @ 1% p.m. will be charged, from date of tds to be deducted to date of tds deduction, for late deduction of tds.
So it depends on month in which you have deducted tds.
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