Tds deducted date

Dear Manikantji,

I think the tds should be deducted on last date of same month and shoul be deposited on or before 7th of following month.

Date of deduction is the date of invoice or date of payment to the party whiever is earlier.

TDS has to be deducted in the same month in which you have booked the expenditure, not in the month of deposit.

Tds on salary is deducted on the date when you payment the salary and tds on others is deducted when you credit or payment the same whichever is earlier..

There should be no confusion that tds should be deducted in same month or not. Provision is that the tds deducted in the month is deposited in the government till the 7th of the following month..

tds deduction not based on dates, its based on payment OR credit whichever is earlier in all cases except salary ........

DEAR MANIKANTH

AS FAR TDS DEDUCTION DATE IS CONCERN,

LIABLITY ARISE AT THE TIME OF BOOKING TH BILL

OR

MAKING PAYMENT TO PARTY WHICHEVER IS EARLER SUBJECT TO FULFILL THE CEILING LIMITS I.E INCASE OF 194 J = RS 30000 IN A YEAR

AND NOW DEPOSITED

 IT SHOULD BE DEPOSTED 7 OF NEXT MONTH EXCEPT INCASE OF MARCH IN THIS CASE LIMIT IS 30 APR BECAUSE OF FINALISATION OF ACCOUNT

Due dates for filing of TDS/TCS returns:

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