Calculation of interest on late tds deposition

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Natasha Mourya (Querist)
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26 May 2014 Dear Sir,
I calculated TDS on Directors Salaries in January - 2014 & deposited TDS by 03 feb 2014, No interest for above Payment, But When I calculated Final TDS on Director's salaries in March 2014 then I found I calculated Rs: 10000 less TDS on Director's salaries in Jan - 2014, it means I should have calculated more TDS RS:- 10000 in January - 2014. I wanna know the TDS amount Rs: 10000 which I calculated less in Jan - 2014 if the same is deposited in by 6 April - 2014 what would be the interest. Or If I conclude Rs 10000 TDS, with rest TDS amount which I calculated in March 2014 & deposit by 06 April - 2014 then what would the interest rate over it.

Guest

Guest (Expert)

26 May 2014 First thing... For TDS of march last date is 31st March.

Now if u had deducted less tds you can deduct tds in the month of march....

I dont think any interest will be payable on that part

Rupesh Jain

Rupesh Jain (Expert)
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26 May 2014 TDs on salary you can increase the amount of tds in next month if you make mistake in previous month . but in march you have to deducted all tds and deposit with govt.
now you are not required to deposit the intt on jan-14. tds amount .

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Natasha Mourya

Natasha Mourya (Querist)
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26 May 2014 I really appreciated to all of u for getting my confusion removed. Thanks a lot.

Guest

Guest (Expert)

26 May 2014 no need of thanks dear specially to me.... m alwz here to help students

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