Late deduction of tds under sec 192

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2016 Dear Experts, mistakenly i have not deducted TDS on one of the employee salary from 1/4/2015 to 29/2/2016 however on 31/3/2016 i have credited the employee salary of march and deducted the entire TDS also remit the same to govt on 15/6/2016 pls let me know weather interest shall be levied from 8/5/2015 to 15/6/2016 or from 31/3/2016 to 15/6/2016, Thanx & Regard Ankur Singh

Rupesh Jain

Rupesh Jain (Expert)
Follow

16 June 2016 you have to start deduct the tds from the starting of the year. now you are deducting the TDS in march then last was for tds deposit date was 30-4-2016. you deposit the tds on dt 15-6-2016 the you have to pay the intt from march 16 to june 16 for 4 month @1.5% per month its come 6.0% on the tds amount .

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2016 sir i have to pay 1.5% interest from 31/3/2016 to 15/6/2016,
right.......

Upgrade to CAclubindia Pro. Subscribe Now!