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Tds

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

20 March 2012

HELLO FRIENDS, CAN ANYBODY TELL ME FOR THE TDS DEDUCTED IN THE MONTH OF MARCH DUE DATE OF DEPOSIT IS 7TH OF NEXT MONTH

BUT IF PAYMENT IS MADE IN CASH ON 31ST MARCH WHAT IS THE DUE DATE OF DEPOSIT 7TH OR 31ST MAY.

AND IF PAYMENT IS MADE BY BOOK ENTRY WHAT IS THE DUE DATE.

PLS. HELP ME.

THANKS.

AND IF PAYMENT IS MADE BY BOOK ENTRY HOW TO FILE THE TDS RETURNS AFTER ACTUAL PAYMENT OF TDS INTO BANK.

PLS. REPLY ME.

THANKS.

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8 Replies

Sonam Bidasaria (CA) (770 Points)
Replied 20 March 2012

Taxis deducted by a person (not being an office of the government), where income is paid or credited (i.e. book entry) in the month of March, tax should be deposited by 30th April.

Sonam Bidasaria (CA) (770 Points)
Replied 20 March 2012

Quarterly return fo Mrarch has to be filed by My 15th May and certificate of tax deduction has to be issued by 30th May .

kiran rathi (Finance Consultant) (100 Points)
Replied 20 March 2012

due date for payment of tds will be 7th april.

Sonam Bidasaria (CA) (770 Points)
Replied 20 March 2012

Due date for payment of TDS will be 7th April, if the deductor is an office of Government and tax deposit is accompanbied by an income tax challan.

Ankit (CA Final) (75 Points)
Replied 20 March 2012

as per notification no. 41/2010 dt. 31.05.2010

TDS for march month is to be deposited on 30th of april

30.

(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of

the Government shall be paid to the credit of the Central Government ‐

(a) on the same day where the tax is paid without production of an income‐tax challan; and

(b) on or before seven days from the end of the month in which the deduction is made or income‐tax is due under sub‐section (1A) of section 192, where tax is paid accompanied by an income‐tax challan.

(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors

other than an office of the Government shall be paid to the credit of the Central

Government ‐

(a) on or before 30th day of April where the income or amount is credited or paid in the month of March; and

(b) in any other case, on or before seven days from the end of the month in which‐

(i) the deduction is made; or

(ii) income‐tax is due under sub‐section (1A) of section 192.

CA Kiran Sutrave (CA) (428 Points)
Replied 20 March 2012

For Salary the TDS is to be paid on or before April 07th; and

For other than Salary the TDS is to be paid on or before April 30th.

1 Like

Rakesh Gupta (Vice President Finance) (92 Points)
Replied 21 March 2012

Dear Kiran,

I would like to hioghlight the follwoing for TDS on Salary in the month of March.

Rule 30 of IT Rules states that all sums deducted in accrodance with " Chapter XVII-B" by non govt. deductors shall be paid to the credit of the Central Govt. by 30th April where the income or amount is credited or paid in the month of March.

Salary also being a part of Chapter XVII-B, TDS thereof can be deposited on or before 30th April.

PLease correct me if I am wrong.