As per TDS rules “the due date for tds payment in March month. In old rules due date for tax deducted in month of march was 7 April and date to deposit tds deducted on provision on last day of financial year was 31.05 of next financial year”. for the F.Y. 09-10
we have paid TDS on bills which accounted on 31/03/2010, tds paid on 31/05/2010.
But in our TIN NSDL - TAN account Defaults schedule showing 2 months of default and we have to pay late payment interest amount.
Hi sudheer,
The last date for pay TDS is on 7-5-2010, this reason its showing to pay interest..
the last date of payment for the month of march is 7th april.but if it is made on 31st march,as per old rule ,the date is 31.5 of next financial year.i think there would have been a mistake by the dept.they would have taken it as tds effected before 31st march.so interest has been levied for 2 months(april and may)
CAclubindia
