TDS - INTEREST

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S RAMESH KUMAR (Querist)
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27 January 2011 HI

I have deducted TDS on 05.04.2010 but remitted the amount on 07.01.2011 - which Interest rate is applicable? 12% or 18%?

CMA. Subhash Kumar Jha (Expert)
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27 January 2011 April to June > 1 % each per month = 3 %
July to Jan > 1.5 % each per month = 10.5 %

Total = 13.5 %

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S RAMESH KUMAR (Querist)
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27 January 2011 Sir,

It is correct?

CMA. Subhash Kumar Jha (Expert)
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27 January 2011 Yes.. of course.

The late penal interest begins from the month of deduction & not from the actual due date...

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Guest (Expert)

27 January 2011 Not agree. Interest will be charged complete @ 18%.

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