11 May 2011
In Case of delay in deposit of TDS whether the interest should be calculated on monthly basis or on day basis. For Example TDS is to be deposited by the 30th April 2011 on Rs. 10000/- deducted on 31.03.2011. Tell me what is the interest amount if TDS to be deposited on 12th May 2011.
11 May 2011
interest is payable @ 1.5% per month or part of the month, so if there is delay of 2 month and 5 days then you have to pay interest for 3 month
CAclubindia
