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Tds deducted late in same month

TDS 573 views 9 replies
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Article
24 Points Posted on 22 January 2016

In a particular case, advance payment was made on 10th October and bill was booked on 11th October. TDS was deducted on 11th instead of 10th and duly deposited before due date on 4th November. Will Interest of 1% on late deduction be charged in this case?

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On 22 January 2016 at 13:31 Report
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CMA
13117 Points Posted on 22 January 2016

I agree. No interest. For the sake of clarity, change the date of deduction as 10th itself

92 Reply
On 22 January 2016 at 13:41
Guest
Remittance is the matter for interest.( because tds is deducted)
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On 22 January 2016 at 22:19
Guest
U remitted with in time I.e before 7 th so no need to pay interest.
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On 22 January 2016 at 22:21
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Practising Chartered Accountant
204 Points Posted on 22 January 2016
Interest is chargeable if TDS deposited after 7th day of following month. In your case ,no interest is attracted.
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On 22 January 2016 at 22:29
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student
23 Points Posted on 22 January 2016
No interest chargeable
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On 22 January 2016 at 23:08
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accountancy
98 Points Posted on 23 January 2016

No interest is payable.

 

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On 23 January 2016 at 20:28
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9 Points Posted on 23 January 2016

INTEREST WILL NOT LIE

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On 23 January 2016 at 22:50
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CA-Final
484 Points Posted on 24 January 2016
On this situation no need to pay interest because TDS deductions was in same month...
1 Reply
On 24 January 2016 at 08:35
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accountant
69 Points Posted on 01 February 2016
Fr a simple so many people answer but few question remains un answeted why
1 Reply
On 01 February 2016 at 15:26


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