16 July 2010
I heard that from 01.04.2010 therewill be two rates of int on late deposit of TDS. Firstly 1% from the date that the amount was due till the date the amount was incorporated in Books of accounts. & 1.5 % from the date of incorporation till the date of deposit of TDS.
Is it correct.
Also if it is correct - then how will a tax auditor justify that the bill for eg dated 15.12.2010 is entered on 15.03.2010 bein the delay from the Assessees point as assessee might say that the bill was received late.
CAclubindia
