Tds to be deduct after limit exceed or before?..

Santosh V. Thakur (Sr. Accountant) (187 Points)

02 June 2016  

If we deduct TDS after limit exceed, is there is any interest for delay of TDS payment.

Example: If April month paid Rs.10000/- professional fees to XYZ , but not deduct TDS (because limit does not exceed Rs.30000/-pa)

but June month paid Rs.40000/- professional fees to XYZ, in this month we deduct TDS @ 10% on entire amount of 50000/- (10000+40000)

In this case delay(??) in TDS deduction attract any interest or not?

Kindly give expert advice.