TDS ON SALARY-PAID ON DUE BASIS

IF A COMPANY CREDITED  SALARY IN THE ACCOUNT OF ITS DIRECTOR DURING THE YEAR AND THE PAYMENT  FOR IT HAS BEEN MADE IN THE NEXT  YEAR. THEN TDS WILL BE DEDUCTED IN WHICH YEAR .FOR EXAMPLE :- IF TOTAL SALARY DUE IS RS. 5,00,000/- FOR A.Y. 2010-11.  THEN TDS IS RS.52,530/- (IF DIRECTOR IS FEMALE)

WHEN TDS IS TO BE DEPOSITED ?????  IN A.Y. 2010-11 OR IN A.Y. 2011-12.

WHICH A.Y. WILL BE  MENTION IN CHALLAN????

IF THE COMPANY DEDUCTED AND PAID TDS ON DUE BASIS THEN WHAT WILL BE THE CONSEQUENCES OF IT.

 

 

Replies (2)

date of credited in the employee a/c (receipt) or date of due   which ever is earlier Actually TDS was deposited in A  Y 2010-10 if not depsosited TDS was deposit with interest

 

tds to be deducted on credit or payment, whichever is earlier basis. a/y should be 2010-11

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