We know that Due date for TDS is 7th of next month
- This sheet will ease your payroll calculation and make it a simple and quick process. It is now just 3 step process: update attendance regularly, enter Salary Calculations and print Salary Slips. Your work is all done. All the files are interlinked with each other. No repetitive tasks.
- The forms are available for free download for personal use only. Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof. Certificate u/s 203 for tax deducted at source on Salary in Excel with formulas for. AY 2021-22, AY 2022-23 and AY 2020-21.
However for March,TDS Due date is 30 April
If deposited late,we have to pay interest @ 1.5%
“work” to include purchase of raw material from 1 2 20 TDS is to be deducted at the rate of 2.0% if the payee is an AOP or BOI. TDS is not applicable on payment to Contractor engaged in plying, hiring or leasing of goods carriages, where such contractor owns 10 or less goods carriages during the.
If TDS is deposited late
Interest is payable from
Date of Deduction (and not Last Date of Challan)
to
Actual Date of Deposit
@ 1.5%
Changes in Interest Rate due to lockdown, If TDS Late Deposit
However,Due to Lockdown,Government has temporarily reduced Rate by 50%
| Current Rate | New Rate (Temporary) | |||||||
| Interest Rate on Late Deposit of TDS | 1.50% | 1.5%*50%=0.75% | ||||||
Due between 20 Mar 2020 to 29 June 2020,
if paid by 30 June 2020
Example 1
Bill of 20 October received of 50000 of Maintenance Charges
Payment made on 24 Oct of 49000(50000-2% tds)
What is Date of Deduction?
Date of Deduction is
Earlier of
Bill -->20 Oct
or
Payment-->24 Oct
i.e 20 Oct
What is date of Deposit?
Date of Deposit is 7th of Next month of Deduction
i.e. 7 November
Suppose TDS Actually deposited on 8 November
What is Interest to be paid?
Interest is to be calculated from 20 Oct to 8 November
This will count as 2 months (October and November)
Interest Rate =1.5%
How To Prepare Tds In Excel Sheet
Interest Amount=1000*1.5%*2=Rs 30
Note
If TDS of March late deposited,then 3 Months Interest Payable
1.5%*3=4.5%
Example 2
Bill of 29 March received of 50000 of Maintenance Charges
Payment made on 30 March of 49000(50000-2% Tds)
What is Date of Deduction?
Date of Deduction is
Earlier of
Bill -->29 March
or
Payment --->30 March
Acrobat distiller 9 free download crack. i.e 29 March
What is date of Deposit?
Date of Deposit is 30 April for March TDS Non Salary
Suppose TDS Actually deposited on 1 May
What is Interest to be paid?
Interest is to be calculated from 29 March to 1 May
This will count as 3 months (March,April and May)
Interest Rate =1.5%
Interest Amount=1000*1.5%*3=Rs 45
Income tax calculation sheet for the financial year 2019-20 [AY 2020-21] Automated Salary Tax Calculator along 15+ other Features. how to calculate tds on salary,as per format we deduct professional tax,pf,esi,can you let me know 2nd June 2009 From India, Hyderabad. Link for SSF excel sheet download SSF salary TDS calculation 76/77 and 77/78. Tds interest calculator excel format. Taxes on Recurring Deposits. Planning for your income tax or calculating your income tax liabilities seems to be a very daunting task for many of us. Who wants to recreate Excel cell styles over and over again? This form is issued by Employers to their … Download Excel e-TDS. All India Protest Call against GST/Income Tax Issues by WMTPA, Taxpayers! 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