26 August 2011
sir my question is that, is there any exemption limit of tds amount on which interest is to be caloculated or not?
in income tax there is a limit of rs 5000. above this amount we have to calculate interest. same as is there any limit is allowed for late deposit of tds.
26 August 2011
No there is no such limit in case of TDS. Any amount of TDS deposited late, will have to calculate interest on late deposit @ 1.5% per month or part thereof.