07 January 2016
Hi All TDS deductible in Nov. 2015. deducted in Dec 15. paying on 7th jan 16. so interest will be applicable @ 1% or 1.5%?????? kindly reply
From the date when TDS was deductible till date of actual deduction,rate of interest is 1% p.m. For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
Interest is to be calculated for every month or part of a month comprised in a period, Any fraction of a month shall be deemed to be a full month
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