I got the Bill from Consultant amount of Rs. 50000 dated 25/09/2014...
If I pay the TDS on Professional Service of Rs. 5000 dated 10/10/2014 instead of 07/10/2014, then I am liable to pay Interest also,,but I m confused that am I liable to pay for 3 Days or 2 months(Sep & Oct) ?
11 April 2015
You are liable to pay interest for 2 months. Such is the provision of section 201(1A) that even for a days delay you will have to pay interest for 2 months.
Also check out the article from below link in this regard:
My unsecured loan amt is Rs. 500000 on 31/05/14, now i pay 250000 dated 21/08/14 & difference amt pay as 250000 dated 28/02/15, now i m liable to deduct tds amt on interest but confused that am i liable to deduct tds on 28/02/15 (single) or 31/05/14 & 28/02/15 (2 times)?
CAclubindia
