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TDS u/s.194IB
If the assessee deposits TDS u/s.194IB (deducted on monthly basis) in March 2023 for the FY 2022-2023 then would there be any interest to be paid on such deposit of the TDS? If yes, then for which period?
Replies (6)
Quick Summary
But for which month's tds deposited??? Deductee should deposit before 7 of every month.
No interest payable in this case.
If TDS was deducted monthly then ut should have been deposited within 7th of next month and Quarterly should have been filed.
Interest shall be calculated @ 1.50 % P.M. from the date TDS was deductible.
Interest shall be calculated @ 1.50 % P.M. from the date TDS was deductible.
Form 26QC is to be filled by each tenant for unique tenant-landlord combination for respective share.
For example:- In case of single tenant and single landlord, only one form is require to be filled.
As deduction is required once a year, so payment is also required to be deposited to Government only once a year.
What if tax is deducted on monthly payment basis? Even in that case tax to be deposited and form 26QC to be filed on yearly basis?
I got confused with 194I. In your case, TDS was required to be deposited within 30 days from the end of the month in which it was deducted.
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