It means we have to pay all amount of TDS of 6 months in
next month.... m i correct?
- 2 Answers
- 3999 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
As per the Income tax Act,1961, Tax should be deducted at
the time of payment or credit to the account of the payee
whichever is earlier. Hence, if you have paid rent in
advance, you need to deduct the tax on it and remit to the
government before the due date falling in the following
month. If you have paid the advance in May,10, TDS should be
remitted in June on or before the due date for the 6 months.
In case you resort to remit TDS every month for the next
6monhts, as per the law you should pay interest on delayed
remittance of TDS to the govt. a/c.
For more info & confirmation, read the Chapter on Deduction/
Collection of Tax at Source in the 'Income Tax Act' or
'Income Tax Ready Reckoner' latest edition or consult a
Chartered Accountant or a Tax Consultant/Expert.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes
A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?
how to calculate of FBT with example & what is Rate
How We know we are liable for Profession Tax liability. I have an optics shop & I want PT Number so what should i do?
vat return dates for uttrakhand
Q.No.1) I paid Salary to our staff after deduction TDS. what is the journal entry pass at that time of payment of salary only, and then at the time of payment of tds. and the last date for payment of TDS Q.No.2) Suppose I paid Salary In advance due to that officer is take business tour at the end of the month in after deducting TDS. Now What is the journal entry Salary Advance & Payment of TDS. and when i will pay TDS for This Situation. Kindly Help me
While depositing cash at any bank above then Rs 50K, we need to provide PAN Card or we have to fill form 60, but tell me why a person needs to sign FORM 60 if he is paying installments of >50K of Loan availed by him/her earlier? As if he is repaying Loan, not depositing in his A/c?
HOW TO FILL UP WEST BENGAL VAT FORM 14. NOT TECHNICALLY I AM AWARE ABOUT THEIR MANUAL. BUT I WANT TO KNOW POINT BY POINT.
WHAT IS THE BANK RECONSILATION, WHAT THE FORMAT OF IT
please explain what is actually E-15 what is its process and also what its importance.
what is central excise tax
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
What is the WCT percentage under which the amount is being deducted in Punjab. Under what Notification and dated when???????????. Serious Senor I need the answer other wise I would not have posed this question; Please send the answer to the mail address.
WHAT WOULD BE THE RATE OF DEPRECIATION OF RAILWAY SIDING AT STRAIGHT LINE METHOD UNDER COMPANIES ACT?
Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me
