Tds defaults

257 views 1 replies

Hi , I am Ashok, I have some Questions.

1. If TDS payment is done on 7th of the follwing month but credited on 8th, so do I need to pay Interest for the same default? Justification shows it as default for 2 Months.

2. What is to be done in case of Short payment and Short duduction and what are the resons for such defaults, if every thing is done correctly.

3. In above two cases what actions to be done to correct it?

Replies (1)
  1. It happens when you make payment online after 8PM in which case it gets credited only next day or when you make payment through bank and there is a delay from bank in making such payment. If so, you need to pay interest for 2 months because date of credit to be considered irrespective of date of payment.
  2. Short payment/deduction happens when the rate of tax is incorrect or amount is incorrect or when any certificate for lower/nil deduction is available and the same is properly not updated in the TDS return. In this case, you need to revise the return correcting the error.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 29 June 2026
Article Assistant

Alvino Consultancy LLP

Mumbai

CA Inter

View Details