delay of TDS payment to Dept

This query is : Resolved 

26 October 2009 what is the interest rate and penalties for delay of TDS payment and how we calculate the interset rate & penaltes if we not paid from april'09. pls tell me

26 October 2009 Interest is 1% per month or part thereof.

26 October 2009 calculation of intt will start from the date when tds should be deductible & to the date of deposit.


27 October 2009 For penalty check

http://e-tds.net/interest.htm

However interest rate mentioned in the above link i.e 15% is old rate, current rate under Section 201(1A)is 12% per annum i.e 1% per minth as advised by the Experts above.

27 October 2009 thanx sir

27 October 2009 You can also check the discussion on this forum..

https://www.caclubindia.com/forum/message_display.asp?group_id=15127

06 November 2009 You can also check the discussion on this forum..

https://www.caclubindia.com/forum/message_display.asp?group_id=15127



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