Interest on late tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2016 Dear Experts,
On 4/1/2016 i have paid Rs. 40000
But mistakenly had not deducted 10%
TDS however on 28/3/2016 i have paid
Rs. 40000 again and deducted 10% TDS
on full 80000/- please tell me will i have
to pay 1% interest on late deduction if
yes for how many month,

Regard
Amit sharma

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 April 2016 If TDS is remitted in April you have to pay 4 months interest.

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2016 Sir, only 1% interest will be levied for 4 month as i have made TDS on 15/4/2016 right,

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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21 April 2016 TDS to be deducted @1.5% PM for 4 months to be calculated.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 April 2016 For non deduction only 1% interest applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2016 Sir.. weather 1.5% interest or 1% on late deduction,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 April 2016 For late deduction only 1% interest applicable.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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24 April 2016 Rate of Interest on TDS :
1% if TDS not deducted
1.5% if TDS deducted but not paid.

Abhishek Ranjan Singh
www.arssolutions.co.in
+919022838615

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