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For March 2011 deposit TDS before April 30, 2011

02 May

April 7 and as a deductor you must be planning to deposit TDS for all payments made during March 2011.  Hold ! the rule has been changed and now the last date of deposit for such transactions is April 30.

For non government deductors , earlier tds on all payments made during March was to be deposited before 7th of April. For all provisional entries credited on 31st March, the last date of deposit was 31st May.

The amended rule does not distinguish between payment entries and provisional entries and the last date of deposit for all such entries is April 30

Notification 41/2010 dated 31.05.2010

Above Notification amended rules pertaining to deposit of tax, issue of tds certificate and filing of eTDS statement.

The above amendment was explained in detail in our Bulletin of June 1010. The same can be viewed by clicking the following link

The relevant extract of amended Rule 30 is reproduced below

30.

(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the Government shall be paid to the credit of the Central Government ‐ (a)  on  the  same  day  where  the  tax  is  paid  without  production  of  an  income‐tax challan; and (b) on or before seven days from the end of the month in which  the deduction is made or income‐tax is due under sub‐section (1A) of section 192, where tax is paid accompanied by an income‐tax challan.

(2)  All  sums  deducted  in   accordance  with   the   provisions  of   Chapter XVII‐B by deductors other  than  an  office  of  the  Government  shall  be  paid  to  the  credit  of  the  Central Government ‐ (a)  on or before 30th day of April where  the  income or  amount  is  credited or paid in the month of March; and (b)  in any other case, on or before seven days from the end of the month in which‐      (i)  the deduction is made; or      (ii)  income‐tax is due under sub‐section (1A) of section 192.

 

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