Tds on salary

As per section 192 of the I-T TDS on salary is requried to be made at teh time of payment.  hence TDS is to be made on 10/5/2011 i.e. at the time of payment.

As per rule 30(2)(b) of the I-T Rules, TDS needs to be deposited on or before 7th June i.e. before 7 days from the end of the month in whihc the TDS is made.

payment date becomes the base for deposit as well as deduction of TDS

Agree with Mr. Giridhar

 

Actually the main feature of the TDS payment is to pay the tds is  

1."7th day of the next month from the last day of the month in which the deduction is made" 

2. And the tds due date is calculated in the basis of the "PAID or CREDITED whichever is EARLIER"

Regards

 

Such income-tax has to be calculated at the average rate of income-tax computed on the basis of the rates in force for the relevant financial year in which the payment is made, on the estimated total income of the assessee. Therefore, the liability to deduct tax at source in the case of salaries arises only at the time of payment.