TDS paid the every month or every quarter

TDS / TCS 6316 views 10 replies

Dear All

Tds deducted in the finance year 2011-12, for the month of July-2011, in the amount paid the tds every month or every quarter.

Please  give suggesion.

Thanking you For all

G.O.REDDy 

Replies (10)

Deposit TDS in the bank within 7 days from the last day of the month in which deduction is made.

Deposit TDS quarterly on 7th July/Oct/Jan/April, AO can allow with the approval of the deputy commissioner

agree with above

Agreed with Mihir and in case of default than 1.5% interest will be required to pay along with the amount of TDS.

Deposit TDS before the 7th of the month following in which the TDS is deducted, eg. TDS deducted on 25July,2011 should be deposited with the Govt. before 7th Aug, 2011.

and the return of TDS is to be filed before the month following the quarter in which TDS is deducted. i.e. before 15th Oct,2011 in the above case!

who will liable to pay tds on quarter basis

TDS Deposited within 7th day form the last day of month in which TDS deduction is made.

 I agree with sandeep,mihir and convinced with Jospreet

interest @ 1.5% is ok for the late deposit but for how many months is it payable? For eg if the tds for the month of feb due on 7march is deposited on 30april,then for how many months is the interest payable?

as per exemple two month but if you deduct TDS on 31st  march due date of tds is 31st may

TDS DEDUCTED IN A MONTH IS TO BE DEPOSITED UP TO 7th OF NEXT MONTH OR BEFORE.

IF DELAY IN DEPOSIT,INTEREST IS CHARGED,1.5% PER MONTH.


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