hello
if i make payment for salary to our employee for the month of may on 7th june and deducting tds on payment than what is the time limit for depositing the same.
is it 7th june or 7th july?
thanks
rahul
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tds on salary
Replies (2)
My Dear frnd the last of deposition of TDS Deducted from salary, when you book the salary for the month of may
TDS on Salary should be deposited within 7 days from the date of booking of the entry
Suppose you have booked the entry on 31st May and releasing payment on 7 June then you have to deposit TDS on or before 7 June..
Otherwise you have to deposit it with Interest.
Regards,
Tarun Kumar
If you cut the TDS on jun7,it should be deposited within jul7, To the best of my knowledge it is irrelavent for which month it should be.
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