Interest for short payment tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2015 Dear Sir.,
We pay tds 1800/ on Rs. 100000/-agst. contractor(pvt.ltd. co) m/o- feb 2014. But actual tds amount is Rs.2000/-In this case how much interest for short payment Rs.200/-Pls suggest me We want to be pay m/o- 7th March 2014.

Thanks
R.R.DAS

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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23 April 2015 You need not pay any interest. pay the short amount.
This is because the due date of payment of TDS for the month of March is April 30. So, pay the TDS amount immediately to avoid interest.

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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23 April 2015 It is 1% per month and for part of a month till the date of actual deduction(On short deduction or late deduction). So, you will have to pay for 14 months along with the short deducted amount.

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