interest on late deposite of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2010
we have bulk of transaction regarding the payment made and deducted the tds in different dates of june and we have deposited the tds on dated 15th july after due date.
so we have calculated interest for two months . please suggest me that m i correct or not
so we have calculated interest for two months . please suggest me that m i correct or not
28 July 2010
Interest on late deposit of TDS
Upto 30.06.2010 1% pm or for a part of a month from the date of deduction.
From 01.07.2010 1.5% pm or for a part of a month from the date of deduction.
Upto 30.06.2010 1% pm or for a part of a month from the date of deduction.
From 01.07.2010 1.5% pm or for a part of a month from the date of deduction.
28 July 2010
The Finance Act, 2010 has amended the said provisions and interest shall be levied as under:
• At one percent for every month or part of a month from the date on which such tax was deductible to the date on which such tax is deducted; and
• At one and one-half percent for every month or part of a month from the date on which such tax was deducted to the date on which such tax is actually paid.
The amended provisions are effective from 1st July 2010
• At one percent for every month or part of a month from the date on which such tax was deductible to the date on which such tax is deducted; and
• At one and one-half percent for every month or part of a month from the date on which such tax was deducted to the date on which such tax is actually paid.
The amended provisions are effective from 1st July 2010
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2010
please read carefully --------
if we deducted the tds in 25 june and paid in 15july after due date and i have calculated interest 1% for june month and 1.5% for the month of july.
please suggest m i correct or not.
if we deducted the tds in 25 june and paid in 15july after due date and i have calculated interest 1% for june month and 1.5% for the month of july.
please suggest m i correct or not.
28 July 2010
Yes you are correct. Till 30.06.2010 rate is 1% and from july 1.5%. So you are correct in your calculation.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
