Interest on late payment of TDS!
This query is : Resolved
26 August 2008
We have deducted tds from contractors on 15.5.08 and paid on 7.7.08. What will be the interest amount for Rs.1000. Is it for one month or two months?
26 August 2008
You have to Pay that before 7.6.8 but you paid on 7.7.8 so 1% int on 1000
i.e, Rs.10
1% for Each Month after they Due Date is the Int Payable
i.e, Rs.10
1% for Each Month after they Due Date is the Int Payable
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