Tds late pmt
This query is : Resolved
Guest
Guest
(Querist)
30 May 2012
Dear Sir / Mam,
Can you please tell me how much would the interest rate be on late pmt on TDS.?
Also is interest on late pmt calculated on the TDS amount that was supposed to be paid or the total amount of the transaction that happened? eg. if there is a pmt of 100000/- to a professional then TDS calculated would be 10000/- & if we have not paid this before 7th of the following month, then will i calculate interest for late pmt on 100000/- or 10000/-???
Lastly is interest on late pmt of TDS calculated on contract as well as on rents as well??
Can you please tell me how much would the interest rate be on late pmt on TDS.?
Also is interest on late pmt calculated on the TDS amount that was supposed to be paid or the total amount of the transaction that happened? eg. if there is a pmt of 100000/- to a professional then TDS calculated would be 10000/- & if we have not paid this before 7th of the following month, then will i calculate interest for late pmt on 100000/- or 10000/-???
Lastly is interest on late pmt of TDS calculated on contract as well as on rents as well??
30 May 2012
Please read the provisions which are clarificatory. However your query itself is not clear to be resolved.
31 May 2012
1. Interest will be calculated @ 1.5% per month. For this purpose part of the month is considered as full month.
2. Interest will be calculated on the amount of TDS and not on the amount of bill.
2. Interest will be calculated on the amount of TDS and not on the amount of bill.
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Guest
Guest
(Querist)
31 May 2012
Thank you so much Siddhartha Sir...Appreciate it..
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