Interest calculation
This query is : Resolved
11 February 2015
as per new provisions,the interest applicable is 18% pa for first 6 months ,
so if e.g. my ST amount is 1000 rs and delay is of 7 days
so is this calculation proper ?
= (1000*18%)*1/12 ( considering delay of part 7 days as 1 month delay..
please reply asap!
so if e.g. my ST amount is 1000 rs and delay is of 7 days
so is this calculation proper ?
= (1000*18%)*1/12 ( considering delay of part 7 days as 1 month delay..
please reply asap!
11 February 2015
Wrong. Correct calculation is = (1000*18%)* 7/365.
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