16 April 2013
I Have made payment of Rs50000 as a contract payment on 1.4.2012 then paid RS80000 to same person on 10.11.2012 and limit of Rs.70000 increased .Now i have to make tds and pay into department. My querry is that whether i have to pay interest on late payment of tds on Rs 50000.?
16 April 2013
tds on contractor limit is 30000 as on 01-04-2012. you paid 50000 to contractor. you should deduct tds. now you have to pay interest april to march onwards
CAclubindia
