09 January 2012
Please suggest. Date of deduction of TDS is 25-Dec-2011 date of Deposit of TDs is 10-Jan-2012
Now the issue is that how many months intt to be deposited ?
As per Income Tax act Intt to be deposited for the period from actual deduction to actual Payment @ 1.5% per month or part of the month. i.e 25-Dec-2011 to 10-Jan -2012.
09 January 2012
You need to calculate 2 months interest such as Dec-11 one month and Jan-11 one month total 2 months 1.50x 2= 3 % interest as per sec.201(1A)
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