Interest on default of tds

This query is : Resolved 

10 October 2011 dear all,

please find the following details (default status of Our TDS) as per NSDL.

Date of deduction 30-JUN-2010
date of deposit 09-JUL-2010
due date 07-JUL-2010
TDS Amount 10100/-
no. of Months default 1
amount of Interest 146.00

according to the above the default period is 1 month is showing but interest is showing 146/-. as per our calculation one month default @ 1% pm is 101/-

kindly clarify


11 October 2011 See, Int. Rate is 18% P.A

therefore, 10100*18%/12*1=151/-

pay it, it is correct.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries