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Employee TDS

Rekha Roy (Financial Administrator) (64 Points)

13 July 2011

Dear Sir/Madam,

Just wanted to know whether we can submit the TDS of every individual separately or have to submit it for all employees altogether.Actually there were some financial crunch with my company so they were uable to do the TDS now i know we have to give interest .so can u just help me ou tin this

Please help me out in this .

Thanks

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9 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 13 July 2011

You can deposit TDS of every employees in one payment. Now it depends on your company how they want to arrange the funds for it. More delay, more interest payable.

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 13 July 2011

Originally posted by : Mihir
	You can deposit TDS of every employees in one payment. Now it depends on your company how they want to arrange the funds for it. More delay, more interest payable.

Rekha Roy (Financial Administrator) (64 Points)
Replied 13 July 2011

our company will like to do it individually so can u please let me know if that can be done or not

Mihir (Wealth Manager) (5293 Points)
Replied 13 July 2011

It can be done. Make sure you prepare correct TDS returns because that could get difficult.

valji (Accounts manager-MBA) (2150 Points)
Replied 13 July 2011

IT CAN BE DONE WITH CORRECT PAN NO

AGREE WITH ABOVE

valji (Accounts manager-MBA) (2150 Points)
Replied 13 July 2011

IT CAN BE DONE WITH CORRECT PAN NO

AGREE WITH ABOVE

sajay kumar (IPCC STUDENT) (162 Points)
Replied 13 July 2011

agreed with valji

Anjani Kumar (Manager) (128 Points)
Replied 13 July 2011

As per Section 192B The employer has to deduct TDS (based on declarations given by employees) on salary , and have to remitt to the government account within prescribed time, if not interest has to pay @ 1.5% per month so the employer has to remitt the amount to Central Govt account( If not deducted/paid by the employer the same expenses has disallowed as per relavant sections) So the TDS payment has to deposit by the Employer only If i am wrong please clarify

Anjani Kumar (Manager) (128 Points)
Replied 13 July 2011

@ Rekha You can submitt either individually or All together, But the problem will occure at time of preparation of ETDS return, i.e. if paid challans individually you have to enter all challans in 24Q and give details for (Dedutee's details) for all challans. if you pay in single challan it is easy comparitive to the above If i am wrong Plz explain