Due Date for Payment of March 2012 TDS and Due Date for Filing March Quarter TDS Statement
Due date for payment of TDS in respect of payments/Credit Related to March 2012 (Including the Expenses/Provisions/ Credits on 31St March) is April 30. So those who have not made TDS payment by 7th April can relax and pay the same by 30th April without any late payment Interest and without worrying for disallowance of expenses. The amendment in due date is made vide Notification No. 41/2010 dated 31 May 2010 (new Notification), notified Income-tax (Sixth Amendment) Rules, 2010 which amends the Rules. The Notification is effective from 1 April 2010 and applies to tax deducted/collected on or after 1 April 2010.
So now the time limit for deposit of TDS for the entire month of March is rationalized to 30 April instead of two separate time limits viz. 7 April for TDS up to 30 March and 31 May for TDS as of 31 March.
Deductors will also need to note that the time limit for filing quarterly TDS statements for last quarter of FY has been advanced to 15 May instead of 15 June.
what if tax deducted by a non govt person for any month (say january) has been paid on 23rd january (before 7 days from the end of the month) to the credit of contral govt, and on 28th january such person again deduct tax… what will b the due date for payement of tds made on 28 jan???
the article on section 56(2) is very good. interestingly i have some questions in mind that suppose i receivebonus shares from a listed or unlisted company then what would be the positin of the benefit rcd in my hand. similar is the question about allotment of shares at a price less then fair market value or break up value of any listed or unlisted company.kindly cover the issues in the article or if possible communicate me the answer on my above mail.thanx and regds.