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TDS deduction for 24Q FY 19-20


kinshuk ganguly (Asst.Manager (Accounts))     30 March 2020

kinshuk ganguly
Asst.Manager (Accounts) 
 7 likes  123 points

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Dear Exparts,

Is there any notification regarding Finalize total TDS deduction on salary for FY 19 -20 under COVID 19 cercumstances. If the Financial Year extended for TDS deduction under 92 B for FY 19-20. Please let us know in this critical situation.
Regards,

avater

Bhargav (cpt)     31 March 2020

Bhargav
cpt 
 3 likes  50 points

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FM has released a press notification stating that no extension of FY has been declared. and

The due date for tds return has extended upto 30th june but we have to deduct applicable tds, and has to remit before april 30

Any default in this matter will leads to interest, and those. interest rates are reduced now

avater

Spurto Consultancy Services (Consultant)     31 March 2020

Spurto Consultancy Services
Consultant 
 69 likes  1280 points

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There will be no financial year extension. The FY 2019-20 will end on 31.03.2020.

TDS deducted for the month of March 2020 can be paid without any interest by 30.04.2020. However late payment of TDS can be made with lower rate of interest on late payment @ 9% upto 30.06.2020.

 


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