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TDS deduction for 24Q FY 19-20

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KINSHUK GANGULY

Judge at Calcutta High Court.

20 Points Posted on 30 March 2020

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,

Replies (2)

Quick Summary

This discussion clarifies TDS deduction for the financial year 19-20 amidst COVID-19. Despite the pandemic, the financial year has not been extended and still ends on March 31st, 2020. While the TDS return due date is extended to June 30th, 2020, TDS for March must still be deducted and remitted by April 30th, 2020, to avoid interest charges. Late payments will incur reduced interest rates.

Bhargav

cpt

20 Points Posted on 31 March 2020

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

Spurto Consultancy Services

Consultant

20 Points Posted on 31 March 2020

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.