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payment TDS on salary

pushpinder (job) (41 Points)

08 April 2008

If salary for the month of Mrach is paid on 4th April, Then by what date TDS should be deposited ????

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17 Replies

Rohit (Service) (38 Points)
Replied 08 April 2008

In case of salary the date of payment is material and is not related to the date of credit. Therefor if salary is paid on 4th april then TDS should be deposited by 7th May.

SUBRAMANIA SARMA G (CHARTERED ACCOUNTANT) (162 Points)
Replied 09 April 2008

Please note that as per the provision of the Income Tax Act 1961 and Rules which specify the time limit for deposit of tax deducted with the Government, any tax deducted by the Government from the salary is to be deposited on the same date and in case of salaries paid by non government organisations like companies, individuals firms etc, Tax deducted from the salaries is to be deposited within 7 days from the date of making the payment of salaries.

Thus where the salary for the month of March is paid on 7 th April, TDS Deducted on salaries is to be deposited within 14of April and not on May 7 as reported above

REgards

G.S.sArma

G. MUKUND (CHARTERED ACCOUNTANT) (23 Points)
Replied 09 April 2008

According to Section 192 of the Income Tax Act deduction of tax on salary shall be at the time of payment.

The tax deducted has to be paid

a. In the case of deduction by or on behalf of Government - same day

b. In other cases within one week from the end of the month in which the deduction was made.

In the referred case since the date of payment is 4th April 2008 the tax deducted has to be paid within 7th of May 2008 (assuming the case falls under category (b) above).

Plese refer Section 192 of the Income tax act and Rule 30 of the Income tax Rules.

SAMEER (ACCOUNTANT) (30 Points)
Replied 10 April 2008

What is the due date for TDS return for 4th Quater? &

Is it necessary now to have pan no.up to 95% of employees to file the salary return? if it is not there wt is the procedure to file the return?

G. MUKUND (CHARTERED ACCOUNTANT) (23 Points)
Replied 11 April 2008

The Due date for TDS return for 4th Quarter (January to March) is 15th June.

According to Press relaease by CBDT dt 12th Feb 2008 (No 402/92/2006-MC(10 of 2008), the threshold limit for quoting PAN in TDS return for Salary ,without which returns will not be accepted ,will be 95% applicable from the return filed for quarter ending 31.03.2008.

It is necessary to have PAN upto 95% for filing salary return on and from the quarter ending 31.03.2008.

Jitender (Chartered Accountant) (8724 Points)
Replied 11 April 2008

tds must be deposited upto 7th april. because salary of march is credited on 31 st march.

Nilay Shah (Chartered Accountants) (74 Points)
Replied 28 June 2008

Agree with Jitender...

M.Sriram Shenoy (CA Final) (814 Points)
Replied 28 June 2008

TDS on salary for the month of march should be deposited by 7th of april as stated by section 192 of Income Tax Act. There is no relaxation as applicable for other expenditures, for which TDS can be deposited even by 7th of May, where provision is made on 31st of March.

Rakesh Arora (Service) (24 Points)
Replied 02 September 2008

Dear All

I was here to search for the answer of this question only. But i m unable to come at some conclusion as there are various arguements against this question. What i know is that in the case of salary tds the deposition should be within 7 days. But i m not able to conclude that whether it is within 7 days from the date of payment to the employee or it is 7 days from the end of the month in which month the payment is actually made. Coz. i m into practical difficulty. In my practical problem the salary for a particular month say August is paid on 10th of the same month i.e. august itself in advance. So what shall be the due date for payment of this tds. Kindly reply here & my mail id as well.

(Guest)

Presently I am working as a Finance Officer in Surat. I have completed my M.Com. from VNSGU, Surat

(Guest)

Presently I am working as a Finance Officer in Surat. I have completed my M.Com. from VNSGU, Surat

Kumar Palani (accounts) (20 Points)
Replied 05 November 2008

Schedule showing TDS rates for the financial year 2007-08 wef 01.06.2007								Exceding Amount
Section	Nature of payment	Payee (Receiver of the gross amount)
		Individuals & HUF		Firm		Corporae
		TI < 10 Lakh	TI > 10 Lakh	TI < 1 Crore	TI > 1 Crore	TI < 1 Crore	TI > 1 Crore
192	Salary	Regular	Regular	NA	NA	NA	NA
193	Interest on securities	10.3	11.33	10.3	11.33	20.6	22.66
194A*	Interest other than interest on securities	10.3	11.33	10.3	11.33	20.6	22.66
194B	Winnings from lottery cross word puzzle, game show	30.9	33.99	30.9	33.99	30.9	33.99
194C*	Payment to contractors:
	Advertising	1.03	1.133	1.03	1.133	1.03	1.133	20000
	Sub contractors	1.03	1.133	1.03	1.133	1.03	1.133	20000
	Others	2.06	2.266	2.06	2.266	2.06	2.266	20000
194D	Insurance Commission	10.3	11.33	10.3	11.33	10.3	11.33
194G	Commission, etc on sale of lottery tickets	10.3	11.33	10.3	11.33	10.3	11.33
194H*	Commission & brokerage	10.3	11.33	10.3	11.33	10.3	11.33	2500
194I*	Rent including furniture and fixtures	15.45	16.995	20.6	22.66	20.6	22.66	120000
194I*	Machinery & Plant and Equipment	10.3	11.33	10.3	11.33	10.3	11.33
194J*	Fees for professional or technical services	10.3	11.33	10.3	11.33	10.3	11.33	20000
194J*	Fees for professional or technical services	10.3	11.33	10.3	11.33	10.3	11.33	20000
194LA	Compensation /consideration compulsory acquisition of any capital asset	10.3	11.33	10.3	11.33	10.3	11.33
* Individuals & HUF only if the payer is liable for tax audit u/s 44 AB
Note:	1) TI refers to total income of the payee
	2) Education cess has been increased from 2% to 3% from 01.04.2007.
	3) Regular rates for salary are slab rate applicable to Individual/HUF:

Bharat Arora (CA) (30 Points)
Replied 06 April 2009

As Per Section 192 of Income Tax Act, the time limit to deposit TDS deducted by person other than Government is within 7 days of salary paid. So in case salary is paid on 4the april the TDS should be deposited by 11 april.

Jyoti Malik (ACCOUNTANT) (2644 Points)
Replied 06 April 2009

As per Sec 192 Salary is credited as on 31st March so TDS is to be deposited up to 7th April . As amount credited or paid which ever is earlier. but as per provision if expenses booked on 31.03 so TDS would be deposited up to 7th May.