TDS deposited after due date

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Damu (Querist)
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07 April 2008 Dear Sir,

If any interest or penalities will be levy for delay payment of TDS after due date of 7th of Every month. If its what is the interest rate and penality for the same

Pls. inform me at the earliest

Damu

Damu (Querist)
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07 April 2008 Please let me know the answer

CA Praveen Chopra

CA Praveen Chopra (Expert)
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07 April 2008 Interest is charged @ 12% p.a.

Damu

Damu (Querist)
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07 April 2008 Dear Mr. PRAVEEN Sir,

Thanks for your earliest reply. I have deposited tax on 8th of April 2008 instead of 7th April 2008.
Shall i pay penalty or interest.and what is the rate of that.

Damu

Damu (Querist)
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07 April 2008 If I am going to pay tds on 08/04/2008 instead of 07/04/2008. Shall i pay interest with tax or penalty with tax or both of them
If applicable give me the rate of that interest.

Jitender

Jitender (Expert)
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07 April 2008 still the intt is payable @12 %.

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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08 April 2008 not only the interest but the expense would be totally disallowed.

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