LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

TDS deduction for 24Q FY 19-20

KINSHUK GANGULY (Judge at Calcutta High Court. ) (137 Points)

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,

Reply
Follow
Share

2 Replies

Bhargav (cpt) (50 Points)
Replied 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) (1891 Points)
Replied 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.