Menu
TDS on Salary
Salary for the month of march is paid on 7th April. It is shown as salary payble on 31st March. When should the TDS on salary of March be deducted. ashould it be 31st March or 7th April. Please guide.
Replies (3)
The deduction is to be made at the time of the actual payment.
On 7th April
TDS is deducted
At the time of credit of Deductee a/c in the Deductor books or
At the time of payment by the Deducter
whichever is earlier.
Salary has been earned by employee and it has become creditor of the company as on 31st March 2017.
It means you need to Deduct tds on 31st March 2018.
One More thing if you will deduct this TDS in the month of April then this entry will comes in 1st Quarter of 2018-19.
If you shows TDS deducted in April this will affect Emplyee 26AS also.
TDS IN CASE OF SALARY IS DEDUCTED ON ACTUAL PAYMENT SO MR.NAVEEN IS RIGHT.
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
