Tds due date

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Rahul

Student CA Final

45 Points Posted on 29 April 2014

Hi, what would be the due date for deposit of TDS deducted in month of March 2014 u/s 194IA? will it be 7th April or 30th April 2014.

Replies (6)

Arpit Pachisia

477 Points Posted on 29 April 2014

Hello Rahul,

Due date for deposit of TDS deducted in the month of March 2014 u/s 194IA is 30th April 2014.

Thanking You

Rahul

Student CA Final

45 Points Posted on 29 April 2014

Thanks for the prompt reply. Is it simply because the act does not specify any thing about due date specifically for this section & hence provisions regarding due date for all other sections apply? Because I have come across certain forums where view of 7th April has been deducted.

Deepak Gupta

CA Student

8353 Points Posted on 29 April 2014

In case of sec. 194-IA, tax deducted in the month of March shall be deposited within 7th of April.
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As per sub-rule (2A) of rule 30 of Income-tax Rules, 1962,
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“Notwithstanding anything contained in sub-rule (1) or sub-rule (2), any sum deducted under section 194-IA shall be paid to the credit of the Central Government within a period of seven days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QB.”
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sub-rule (1) and (2) specifies the due dates for tax deducted by government and other than government respectively.
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But the beginning of sub-rule (2A) says that, “Notwithstanding anything contained in sub-rule (1) or sub-rule (2)…” It means that sub-rule (2A) will prevail.