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When we receive expense bill of party ,it is not necessary that we make payment on Same date

Hence Bill Date and Payment date may be different

Also in some cases, payment may be made in advance and bill received later

 

When is TDS to be deducted?

It is to be Deducted on

Date of Bill Received

Or

Date of Payment

(Whichever is earlier)

 

When is TDS to be deposited

It is to be Deposited by 7th of next month of deduction.

Example

TDS Deducted in January, to be deposited by 7 February

TDS Deducted in February, to be deposited by 7 March and so on

However for March, it is to be deposited by 30 April and not 7th April

 

Examples

 CASE-1

When is TDS to be Deducted and Deposited - When is TDS Due

Assuming Bill Received on 10th April and Payment Made on 15 April

When TDS is to be Deposited ?

View Answer
  1. Tax Practical
  2. Practical TDS (Non Salary)
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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