Poonawalla fincorps
Poonawalla fincorps

Tds interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 September 2015 Dear Sir,
An individual assessee has deducted tds on 27/06/2015. What would be interest payable on late payment, and from which date it would be calculated?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
10 September 2015 Interest on late deposit to be paid @1.5% per calendar month.

TDS deducted on 27/06/15. Say it is deposited on 11/09/15 then interest on late deposit to be paid for 4 months (June, July, Aug & Sept) @1.5% per month.

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