Hello Every1,
I have a query regarding TDS. My company has received the invoice dt 01/07/2012 bt has made the payment on 01/08/2012. what i want to ask is what is the due date of payment of TDS. 07/08/20012 or 07/09/2012.
Plz do reply.......
CA Sanjay Bag
(CHARTERED ACCOUNTANT)
(3340 Points)
Replied 01 August 2012
Hi Deep as per rule you have to made deduction for tax when you made payment, distribute or credit to made payment which ever is earlier. So, in your case you have to made deposit for TDS within 07.08.2012
Ankit
(CA, CS)
(3064 Points)
Replied 01 August 2012
Dear Deepa,
the TDS is to be paid w.r.t. date of payment or date of credit whichever is earlier. since invoice is recd. on 1/7, the date of credit (as amount payable) to the account is 1/7 hence, the date, according to me is 1/8 and not 1/9
deepa
(Accounts Manager)
(75 Points)
Replied 01 August 2012
Is it Mandatory to deposit it online??? I mean my company might not having Internet banking...
CA Sanjay Bag
(CHARTERED ACCOUNTANT)
(3340 Points)
Replied 01 August 2012
Amit jha
(Sr. Officer (Finance & Accounts))
(309 Points)
Replied 02 August 2012
hi...you have two options...
1.. you can deposite it through your banker also via challan.
2. you can deposit it from you self via online banking if your company has no online banking then you can go ahead with anyone's account who has net banking..either it is the employee or someone else.......
thanks..
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