Late deduction of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
Dear Sir/Madam,
Ours is a Private Limited Co.During the Financial Year 2011-12 we had deducted TDS u/sec.194A on 31-03-12 which is to be deducted on 16-03-12.
Whether Interest on late deduction of Tds applicable in this case?
Please Reply.........
Ours is a Private Limited Co.During the Financial Year 2011-12 we had deducted TDS u/sec.194A on 31-03-12 which is to be deducted on 16-03-12.
Whether Interest on late deduction of Tds applicable in this case?
Please Reply.........
30 May 2012
YES, INTEREST FOR LATE DEDUCTION IS 1% PM PAYABLE AND INTEREST OF LATE PAYMENT IS 1.5% PM PAYABLE, FROM DUE DATE OF DEDUCTION/PAYMENT TO DATE DEDUCTION/PAYMENT.
30 May 2012
Please note that now the date of deposit in case of March payment is 30th April hence no interest on late payment would be applicable, if deposited on or before 30th April.
30 May 2012
Agree with Tarun Dhingra
but i have a doubt regarding late deduction of tds,
but i have a doubt regarding late deduction of tds,
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