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Tds payment related query

04 June 2019

what if I forgot to deduct tds on payment to contractors of April month? can we deduct it now... while making payment of may month on Or before 7/6/19

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9 Replies

Ch. Ramachandra Rao (Executive) (46 Points)
Replied 04 June 2019

OK, you can deduct it now and pay to government before 7th May 2019

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Tanvi Udeshi (12 Points)
Replied 04 June 2019

is there any need to mention that while making tds payment of may... one payment of April is also made?? and is there any interest for d same

Ch. Ramachandra Rao (Executive) (46 Points)
Replied 04 June 2019

If TDS is deducted in April 2019, Due date is 7th May 2019,

so you have time to made tds payment.

Tanvi Udeshi (12 Points)
Replied 04 June 2019

now June is going on...

Urvashi Garg (other) (352 Points)
Replied 04 June 2019

For TDS liability of April, deduct in June and pay the amount with 3% interest.

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Ch. Ramachandra Rao (Executive) (46 Points)
Replied 04 June 2019

sorry, this is June month. then you can pay interest for 2 months. interest Rate 18% p.a

Sreekanth (Articled Assistant) (38 Points)
Replied 04 June 2019

Interest rate for non deduction of TDS is 1% per month. So, you have to pay TDS amount with interest @ 3% (since liability pertains to April month and payment is being made in June month). And the details of transaction have to be shown in form 26Q (other than salary and payments to residents quarterly return) on 31.07.2019..

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Hemanshu Bakshi (77 Points)
Replied 04 June 2019

Agreed with Shreekanthji

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(Guest)

Originally posted by : Tanvi Udeshi
	what if I forgot to deduct tds on payment to contractors of April month? can we deduct it now... while making payment of may month on Or before 7/6/19