T.D.S.

TDS / TCS 512 views 2 replies

I HAVE CREDIT THE PARTY FOR THE EXPENSES OF ADVERTISEMENT  IN THE ACCOUNT BOOKS FOR WHICH THE DETAIL IS AS UNDER :

PARTY NO. - 1

DATE OF CREDIT THE PARTY                                 AMOUNT

07/04/2009                                                                  13,120/-

PARTY NO. -02

DATE OF CREDIT THE PARTY                                 AMOUNT

07/04/2009                                                                    6,480/-

26/08/2009                                                                    8,640/-

06/09/2009                                                                   15,000/-

PARTY -03

DATE OF CREDIT THE PARTY                              AMOUNT

30/04/2009                                                                36,396/-

PARTY -4

DATE OF CREDIT THE PARTY                              AMOUNT

01/09/2009                                                              267060/-

PARTY -5

DATE OF CREDIT THE PARTY                              AMOUNT

30/09/2009                                                                 5,500/-

TILL NOW I HAVE NOT DEPOSITED THE TDS DUE TO THE IGNORANCE ABOUT THE TDS RULE . I WANT TO DEPOSIT IT NOW .KINDLY LET ME KNOW HOW MUCH T.D.S. I HAVE TO PAY AS ON 15/11/2009 AND ALSO GIVE ME THE FIGURE OF INTEREST TILL NOW. IT IS VERY URGENT PLEASE HELP ME AS SOON AS POSSIBLE .     

Replies (2)

Party 1,Party 2 and party 5 are not liable to TDS because a single payment does not exceed Rs.20,000 and the aggregate does not exceed Rs.50,000/-

Deduct TDS on the payments to party 3 and party 4 @ 1.03% and pay interest @ 1% per month on the TDS amount.

Fatema is right


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