17 October 2014
My boss purchases property in june 2013 but couldn't deposit TDS a sum of Rs:- 90000 thousand, which is 1% on the property value 9000000 lac. I want to know what is the rate of interet of TDS if I deposit TDS today ?
17 October 2014
Interest payable as under (i) at one per cent. for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and (ii) at one and one-half per cent. for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid CA MANOJ GUPTA JODHPUR 09828510543
17 October 2014
Manoj Ji, Property was purchased on 01June2013 but TDS is deposited on 17Oct2014. It means firstly I calculate 1% interest for 17 months till today. after date against I should calculate 1.5% interest for 17 months till today.
CAclubindia
