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PARTICULARS |
DUE DATE OF PAYMENT |
CONSEQUENCES |
| A 1 |
Income Tax
Tax Deduction at Source
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1. On salary |
Within seven days from end of
the month in which TDS is deducted & in case of March provision within
seven days of deduction. |
Interest u/sec.201(1) |
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2. On contractors, sub contractors,
prof.fees, commission & brokerage, rent, interest |
Within seven days
from the end of the month in which TDS is deducted & in case of
provision on 31st March, it is payable on or before 31st May. |
Interest u/sec.201(1), & if not paid
before 31st March or 31st May, the corresponding expense is disallowed
u/sec.40a(ia) & in case of failure prosecution proceedings attracted |
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3. On professional fees |
Within seven days
from the end of the month in which TDS is deducted & in case of
provision on 31st March, it is payable on or before 31st May. |
Interest u/sec.201(1), & if not paid
before 31st March or 31st May, the corresponding expense is disallowed
u/sec.40a(ia) & in case of failure prosecution proceedings attracted |
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4. On commission & brokerage |
Within seven
days from the end of the month in which TDS is deducted & in case of
provision on 31st March, it is payable on or before 31st May. |
Interest u/sec.201(1), & if not paid
before 31st March or 31st May, the corresponding expense is disallowed
u/sec.40a(ia) & in case of failure prosecution proceedings attracted |
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5. On rent |
Within seven days from the end of
the month in which TDS is deducted & in case of provision on 31st
March, it is payable on or before 31st May. |
Interest u/sec.201(1), & if not paid
before 31st March or 31st May, the corresponding expense is disallowed
u/sec.40a(ia) & in case of failure prosecution proceedings attracted |
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6. On interest |
Within seven days from the
end of the month in which TDS is deducted & in case of provision on
31st March, it is payable on or before 31st May. |
Interest u/sec.201(1), & if not paid
before 31st March or 31st May, the corresponding expense is disallowed
u/sec.40a(ia) & in case of failure prosecution proceedings attracted |
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7. Payment to Non resident u/sec.195 |
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If tax
is not deducted then salary & interest is disallowed u/sec.40a |
| 2 |
Payment of advance tax |
before 15th june-30%, 15th sept.-45%,
before 15th Dec-75%., before 15 th March-100% |
Interest u/sec.234 B & 234 C is payable |
| 3 |
Payment of advance FBT |
before 15th june-30%, 15th sept.-45%,
before 15th Dec-75%., before 15 th March-100% |
Interest is payable on the same lines as
u/sec.234 B & C |
| 4 |
Quarterly filing of E TDS returns |
Within 15 days from the ended of each
quarter except in case of March quarter for which due date is 15th
June |
If not paid within due date, penalty is
levied of Rs. 100 for everyday from the due date till the date of
filing quarterly return. |
| B |
Service Tax
1. In case of individual, Proprietary firms & partnership firm |
Payable on quarterly basis - 5th
of the month immediately following the said quarter & in case of
service tax on the value taxable services received during the month of
March or the quarter ending March shall be paid by 31st March. |
Interest @ 13% p.a.& it is
payable along with service tax payment. Also, if not paid before due
date of filing I.T return the same will be disallowed u/sec.43B |
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2. In case of Companies |
Payable on monthly basis - 5th of the
month immediately following the said calender month & in case of
service tax on the value taxable services received during the month of
March or the quarter ending March shall be paid by 31st March. |
Interest @ 13% p.a.& it is payable along
with service tax payment. Also, if not paid before due date of filing
I.T return the same will be disallowed u/sec.43B |
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3. Filing of return Return is to be
filed on half yearly basis i.e 1st April to 30 th Sept.& 1st Oct.to
31st March |
Return is to be filed in triplicate, on
or before 25th of the month following particular half year i.e.25 th
April & 25th October |
Penalty can be levied upto Rs.1000/- |
| C |
VAT
1.If VAT liability is more than Rs.1 lac |
On or before 25th of the
immediately following month |
Interest under M VAT Act can be
levied. Also, if VAT is not paid before due date of filing I.T.return,
it is disallowed u/sec.43B |
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2.If VAT liability is more than Rs.1 lac |
On or before 25th of the immediately
following quarter |
Interest under M VAT Act can be levied.
Also, if VAT is not paid before due date of filing I.T.return, it is
disallowed u/sec.43B |
| D |
Companies Act 1. Holding of Agm |
Within 6 months from the date
upto which financial statements are prepared. i.e for Fin.St.as on
31st March, AGM Should be held on or before 30th Sept. |
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2. Filing of annual audited financial
statements |
Within 30 days from the date of AGM |
Fine of Rs.500/- for every month or part
of the month during defaulting period |
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3. Filing of annual return to RoC |
Within 60 days from the date of AGM |
Fine of Rs.500/- for every month or part
of the month. |
| E |
Providend Fund |
Within 15 days from the end of month in
which deduction is made |
If not paid before due date, employees'
cotrn.is added to the profit. Employers' contrn. Is however allowed if
it is paid before due date of filing I.T return. |
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ESIC |
Within 21 days from the end of month in
which deduction is made |
If not paid before due date, employees'
cotrn.is added to the profit. Employers' contrn. Is however allowed if
it is paid before due date of filing I.T return. |
