Tds payment liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2018 Dear Experts,
We have paid the Interest Rs. 15000/- on 26/02/2018. Pls clarify what would be due date for TDS deposit whether 7/03/2018 or 30/04/2018,

Thanks
Ankit

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

29 May 2018 7th march 2018 is the due date in this case.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2018 Sir since the TDS liability arise on payment of interest I.e. hence interest interest 18% will be levied. Pls let me know the formula of interest calculation from 26/02/2018 to till date

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

29 May 2018 assuming you are paying tax in may, you need to compute interest for four months - Feb, March, April and May. So TDS amount *18%*4/12

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2018 Sir one more question :- in another case we have credit the interest on 31/03/2018 in this case interest will be Levied for two month April, may or three month inclusive march

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

29 May 2018 including march......