Manikanth (Chartered Accountant) (342 Points)
09 January 2013I Want to know that ,Is TDS of any month shoud be deducted in the same month itself OR till 7th of the following month?? But i know that tds should be deposited till 7th of the following month. I have so much Confusion about TDS deducted date.
Please Clarify this.Thanks in advance.
Jitendra Nayak
(Accountant)
(30 Points)
Replied 09 January 2013
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.
PARMITA MAZUMDER
(CA- Practice)
(386 Points)
Replied 09 January 2013
Date of deduction is the date of invoice or date of payment to the party whiever is earlier.
CA D.C. Bansal
(Accounts Head)
(283 Points)
Replied 09 January 2013
TDS has to be deducted in the same month in which you have booked the expenditure, not in the month of deposit.
CA Sourabh Goenka
(Chartered Accountant)
(249 Points)
Replied 11 January 2013
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..
CA Lokesh Pokharna
(CA (Ahmedabad Bhilwara Chittorgarh))
(4128 Points)
Replied 11 January 2013
tds deduction not based on dates, its based on payment OR credit whichever is earlier in all cases except salary ........
CA Deepak Rathore
(EXPERT)
(281 Points)
Replied 12 January 2013
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
Simran
(Student)
(1165 Points)
Replied 18 January 2013
Due dates for filing of TDS/TCS returns:
| Quarter |
Form Nos. 24Q & 26Q |
Form No. 27Q |
Form No. 27EQ |
|
April to June |
15 July |
15 July |
15 July |
|
July to September |
15 October |
15 October |
15 October |
|
October to December |
15 January |
15 January |
15 January |
|
January to March |
15 May |
15 May |
15 May |
A Convinient software to file your e TDS returns is TDSMAN software... you can download the free trial of this software from https://www.tdsman.com/Trial-Form.aspx
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