Tds
This query is : Resolved
16 August 2010
If there is delay in tds remittance of non salary like contractors, professional etc by 1 or 2 days is there is any interest on it pls let me
16 August 2010
yes, as per recent amendments, interest @1.5% pm or part thereof is payable.
16 August 2010
If TDS is not deposited within due date, you will have to pay interest.
16 August 2010
Even for 1 or 2 day delay you will have to pay 3% interest. Interest is calculated from the date of deduction till date of payment.
Say TDS deducted on 25th July
Due Date 7th August
TDS deposited on 8th August.
You will have to pay interest @1.5% for two months.
Apart from that penalty u/s 221 to the maximum of TDS amount may also be levied.
Say TDS deducted on 25th July
Due Date 7th August
TDS deposited on 8th August.
You will have to pay interest @1.5% for two months.
Apart from that penalty u/s 221 to the maximum of TDS amount may also be levied.
16 August 2010
yes. 1.5 % interest per month from the date of deduction of TDS.
16 August 2010
Nice expalined in this article.
https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp
https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
