Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2014 Dear sir,
I have deduct the tds for the month of July for salary. i cannot paid the due date on 07.08.2014. but i have paid the tds on 20.08.2014. i calculate the tds interest for 1.5 % for 1 month . my calculation for below
TDS -46821
inte @1.5 % - 702
Total -47523
the above calculation its wrong or right sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 October 2014 The salary relates to July and the salary payment date is 31st July you have to remit 2 months interest.

@VaibhavJ

@VaibhavJ (Expert)
Follow

14 October 2014 Hi

Delay is calculated from the date of deduction to date of payment and also part of month is considered as full month, hence for one day delay 2 month int is to be paid.

Thanks

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2014 Dear sir,
Kindly send the TDS Interest calculation sheet in excel format sir

@VaibhavJ

@VaibhavJ (Expert)
Follow

14 October 2014 please search in file section, it is available there.