TDS WITH INTREST ?

This query is : Resolved

vinod (Querist)
Follow

13 May 2009
WE HAVE CREDITED MAINTAINCE CHARGES(TDS ON CONTRACT) ON JAN 1 2009 BUT TDS PAID ON MAY 6, 2009 WITHOUT INTREST.

WHAT WILL BE INTREST AMOUNT IF WE WANT TO MAKE PAYMENT OF INTREST IN NEXT MONTH (june 2009)?

KINDLY ADVISE.

C.A.Javid Patel

C.A.Javid Patel (Expert)
Follow

13 May 2009 Interest willbe @ 1% for 4 month i.e. from ( Feb to may).

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
Follow

13 May 2009 You have to pay interest on TDS amount for 4 months @ 1% per month, means total 4% of the said TDS. and 1% on above Interest amount if you plan to pay interest in June, as the payment of TDS in may will be first adjusted to Interest and then balance is to be considered as TDS Deposit.

Upgrade to CAclubindia Pro. Subscribe Now!