I have query regarding interest payment of Delay TDS payment
If provision for expenses was made on 31st March 2009, on the provision TDS is deducted which can be paid by 31st May 2009,
My Query is if an assesse failed to pay the TDS on 31st May , in this case From which period the interest have to be paid from 1st April 2009 or 1st June 2009 onward ?
According to my view it should be from 1st April 2009, but my superior’s view differ on the matter .
Please let me know whether my view is correct or my Superior's view is correct.
19 June 2009
Hi pravin, Interest is to be paid from 1st june. Your superiors view is correct. Interest is applicable only after the due date of payment. So there is no question of payment of interest from 1st april.
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