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TDS DUE DATES FOR MAR2009

ASHWINI (CHARTERED ACCOUNTANT) (28 Points)

22 April 2009

What is the due date for payment TDS deducted in Mar2009. TDS Deducted from 01-03-2009 to 31-03-2009.

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13 Replies

CA.Vijay Shetty (Chartered Accountant) (47 Points)
Replied 22 April 2009

The amount paid or credited till 30th March, the tds has to be paid within 7th April 2009, if the amount is credited on 31st March.i.e. last day of accounting year then the due date is 31st May 2009..

Nitesh (service) (136 Points)
Replied 22 April 2009

Dear Vijay Shetty,

I HAVE RESERVATION REGARDING 31ST MARCH.

THE RULE IS IF PROVISION IS MADE ON 31ST MARCH THE DUE DATE FOR PAYMENT IS EXTENDED TILL 31ST MAY.

ABOVE RULE DO NOT COVER VENDOR BILL ACCOUNTED BY PAYMENT ENTRY MADE ON 31ST MARCH .

THE SENTENCE NEEDS TO BE MORE CLEAR FOR TDS APPLICABILITY.

taxindiaconnect (Others) (3734 Points)
Replied 23 April 2009

I agree with Nitesh, the rule speaks about the amount creadited on the last date and not the amount paid on the last date. The reaosn for the relexation of depositing TDS on income creadited on the last date of the FY years is as the credit enteries may take place in the books during the account finalisation process. Such credit enteries do not attract non compliance of TDS deposit on such entries, such a relataxation has been provided in the law, this may not certainly for the paymemts made on the last day. the table border="0" cellpadding="5" cellspacing="5" style="border-collapse: collapse" bordercolor="#111111" id="AutoNumber1"> Originally posted by :Nitesh " Dear Vijay Shetty,
I HAVE RESERVATION REGARDING 31ST MARCH.
THE RULE IS IF PROVISION IS MADE ON 31ST MARCH THE DUE DATE FOR PAYMENT IS EXTENDED TILL 31ST MAY.
ABOVE RULE DO NOT COVER VENDOR BILL ACCOUNTED BY PAYMENT ENTRY MADE ON 31ST MARCH .
THE SENTENCE NEEDS TO BE MORE CLEAR FOR TDS APPLICABILITY.

"

(Guest)

nitesh is right... tds can be deposited upto 31st may...

CA.Vijay Shetty (Chartered Accountant) (47 Points)
Replied 24 April 2009

Dear Nitesh

Yes.. you are right . i agree with your view.

Rupesh Jha (M.Com CA PhD* and MBA*) (1116 Points)
Replied 24 April 2009

YES,NITESH IS RIGHT.

Dinesh Khurana (Service) (95 Points)
Replied 24 April 2009

Nitesh is right... In case of exp. credited / Amt. paid on 31st Mar then due date for TDS deposit is 31st May (Other than Salary)

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 28 April 2009

Mr. Dinesh U can read rule 30 of IT Act, 1961. " Within One week from the last day of the month in which deduction is made. However if the same is credited by the assesee to the account of the payee as on on the date upto which the accounts of the payers are made, within 2 months of the expiry of the in which date falls.If U pay it on 31.03.2009 instead of proivision/credit to payee a/c Your due date falls on or before 07.04.2009 ( if U make payment)

surana, Chennai

9952967237

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 28 April 2009

This apply for all the some of sec. not for all

karthikeyan m (chartered accountant) (26 Points)
Replied 29 April 2009

i think we can pay upto / before filing of I.T. return, alongwith interst and we can claim the concerned expenses in the current year itself in IT computation..

previously we can claim only in the year of payment only..

so last date without fine 31-05-2009 and with fine - Sep 2009 ( filing of return )

CA.Vijay Shetty (Chartered Accountant) (47 Points)
Replied 29 April 2009

That is with respect to allowability of expenditure u/s 40(a)(ia). Tax is deductible in any month other than March , but not deposited on or before March 31 then no deduction of the expenditure is allowed in the current year. Only when the tax is deductible in the month of March and deposited on or before the due date of submission of return of income , then the expenditure can be claimed in the current year itself. TDS deducted other than in the month of March has to be deposited on or before 31st March to claim the said expenditure in the current year itself.

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 29 April 2009

I agree with Mr. Vijay shetty, The disallowance of exps. u/s 40(a) (ia) has been modify and amended with retrospective effect from the A.Y. 2005-06 by the Finance Act, 2008 substitued for " has not been paid during the previous year or in the susequent year before the expiry of the time prescribed under sub section 1 of sec. 200"

Surana, Chennai

9952967237

paresh shirke (SENIOR EXCUTIVE) (31 Points)
Replied 10 January 2010

THE RULE IS IF PROVISION IS MADE ON 31ST MARCH THE DUE DATE FOR PAYMENT IS EXTENDED TILL 31ST MAY.

WETHER SAME RULE IS APPLICABLE TO PROVISION IS MADE ON 31ST DEC & DUE DATE FOR PAYMENT IS 28TH FEB OR IT IS APPLICABLE ONLY TO PROVISION IS MADE ON 31ST MARCH

AS MANY MULTINATIONAL BOOKS CLOSING ON 31ST DECEMBER