TDS PAYMENT

Hello

If you booked the invoice on 31-march, then you can deposit the TDS till 31-may

Amit

if u booked the bill on 31st March , You have to deduct tds on 31st march and you have to deposit tds within due date of your return.

if you deducts tds on 20th april, you should deposit tds within 7th May to avoide interest.

 for ass year...2009-2010....tds deducted in monthof march...can be deposited ...upto 31st may,,,,,(as per my knowledge)

Dear Amit,

Deduction entry is to be made by 31st March as its closing date. And One more thing if payment not made then you can deposit tax till 31st May otherwise on 7th April you have to deposit tax. However from A.Y. 2009-10 you can deposit tax till due date of your Income Tax return if the entry is passed on 31st March that is your liability to deduct TDS is 31st March. If suppose you deduct TDS on 15th march you have to deposit TDS before 31st March.

Thx Abhishek

for updating me on ammendment.

One question - You said that if we deduct the TDS on 15th-March we have to deposit it before

                            31-March......... I think it should be before 07-Apr

Pl clarify me.

Amit

No dear you have to deposit tax till 31st March. Actually i am mistaken that its applicable from A.Y. 2006-07 retrospectively. If you deduct TDS within 1st April to 30th March you have to deposit TDS within 31st March. Option of depositing TDS till due date of IT return is for 31st March entries only.  

Ok

I was totally unaware on this ammendment

Thanks to share this valuable info in time.

That means on 31-Mar, I should deposit the TDS , deducted till 30-Mar.

Only thing is that for the last f.y. I have deposited the March TDS before 07-Apr..... and our CA didnt take any objection in his audit report............ quite surprising

Warm Regards

Amit