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Tds interest calculation

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2012 how to calculate interest on job work which was deductable on dec 2011(on jan 7 2012)
Now we are going to pay it on march 7
kindly give the caculation formulae
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 February 2012 If you already deducted TDS on Dec-11 and paying March-2012, then TDS apply 1.50% per month,so Dec/Jan/Feb/Mar- total 4 months 6%

In case tds deductible but you not deducted TDS on Dec-11 and deducting and paying March-2012, then TDS apply 1% per month,so Dec/Jan/Feb/Mar- total 4 months 4%
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 February 2012 If you already deducted TDS on Dec-11 and paying March-2012, then TDS apply 1.50% per month,so Dec/Jan/Feb/Mar- total 4 months 6%

In case tds deductible but you not deducted TDS on Dec-11 and deducting and paying March-2012, then TDS apply 1% per month,so Dec/Jan/Feb/Mar- total 4 months 4%
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