Tds on immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2014
I have paid 3 installments to the builder without deducting TDS. Now, I want to pay TDS to tax authorities tomorrow i.e. 06.01.14. The dates of payments were 10.09.13, 04.10.13 and 12.11.13. Please inform interest rate for making interest payment alongwith TDS. Please also inform installment wise period for which interest is required to be paid.
06 January 2014
take interest rate @ 1.5 % pm
Sept-13 5 months 7.5%
Oct-13 4 Months 6.00 %
Nov-13 3 Months 4.5 %
REgards
Sept-13 5 months 7.5%
Oct-13 4 Months 6.00 %
Nov-13 3 Months 4.5 %
REgards
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2014
Dear CA Kedar,
Thank you for your reply. However, I understand 1.5% is payable when TDS has been deducted but not deposited. In my case, I have not deducted the same and now depositing the same from my own and get TDS amount adjusted in next installment. Hence, please confirm whether interest @1% pm upto today is applicable or 1% upto 05.01.2014 i.e. yesterday and 1.5% for 06.01.2014.
Thank you for your reply. However, I understand 1.5% is payable when TDS has been deducted but not deposited. In my case, I have not deducted the same and now depositing the same from my own and get TDS amount adjusted in next installment. Hence, please confirm whether interest @1% pm upto today is applicable or 1% upto 05.01.2014 i.e. yesterday and 1.5% for 06.01.2014.
06 January 2014
Interest rate is 1.5% not 1%
TDS is payable from the date (month) when it is deductible and not actually deducted
regards
TDS is payable from the date (month) when it is deductible and not actually deducted
regards
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