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WHEN TAX IS TO BE
DEDUCTED
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Tax is to be deducted
either at the time of payment of interest in cash or by issue of
cheque or draft or by any other mode or credit of it to any account, whichever
is earlier.
Liability has to be disbursed by following time span
| Type
of Deductor |
Period
of payment |
| Interest
credited by a person (other than Govt.) to the account of payee
as on the date up to which the accounts of such person are made |
Within
two months from the end of the month in which such date falls |
| In
any other case |
Within
one week from the last day of the month in which deduction is
made |
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