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Hi All,
I am associated with Software company.I have no accounts background. My question is out of some curosity.
What if one has not deducted TDS on/ before 31 st march, So wht should be done in such case?

From India , Pune
Not to worry dear freind. Just take care that the tds has been deducted on or before 31 March. You have to pay simple interest @1% for fraction or full month from the date of bill or payment made to person/s to the date on which you are depositing tds to credit of Govt. It is allowed upto filing of ITR.

From India , Pune
Definately but you have to book tds deducted on the date of bill or payment or on 31 March. Calculate interest @1% on late payment of tds to govt. All the less or non deducted tds is to be declared by the auditors in Audit Report.
From India , Pune
Dear Asmi, Do not worry the deduction can be done in the month of April also. The last date of provision of Form 16 is 31st May. Ramakant
From India, Pune
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