Tds deduction
This query is : Resolved
22 May 2013
Sir,
We have filed our TDS return for IVth qtr. f.y. 2011-12, TDS liability u/s 94J arised in audit, due to some reason we have not deposit the same till today. If we deposit the same today, what is interest liability (Bill amount 202700, dt. 31-01-2012)& whether we revise our TDS return for IVth qtr. 2011-12.
Experts are requested to guide me to what to do?
Thanks a lot in advance.
We have filed our TDS return for IVth qtr. f.y. 2011-12, TDS liability u/s 94J arised in audit, due to some reason we have not deposit the same till today. If we deposit the same today, what is interest liability (Bill amount 202700, dt. 31-01-2012)& whether we revise our TDS return for IVth qtr. 2011-12.
Experts are requested to guide me to what to do?
Thanks a lot in advance.
22 May 2013
Yes, you have to Pay the amount with 1% Interest per month. And you need to revise the return for the said period.
22 May 2013
1.The interest @1% PM or Part thereof from the date on which tax was to be deducted till date od deduction.
2.1.5% PM or Part thereof from date of deduction till date of payment.
2.1.5% PM or Part thereof from date of deduction till date of payment.
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