Time for deposit TDS

Dear Brajesh,

As per Income Tax Act if you have deducted Tax at source, you need to deposit the same WITHIN 7 DAYS FROM LAST DAY OF MONTH IN WHICH TAX IS DEDUCTED irrespective of accounting year you are following. The 2 month benifit if for TDS Return for Q4 not for depositing tax.

 

Dear Abhinav , thanks for reply . But kindly refer rule 30 . As per Rule 30 (1) (b)(1) of the Income tax which deals with the time and mode of payment to government account of tax deducted at source or tax paid under sub section (1A) of section 192 , it is clearly mention that “where the sum referred in section 194C ………… is credited by a person to the account of the payee as on the date up to which the accounts of such person are made , within two months of the expiration of the month in which that date falls; Regards Brajesh