23 July 2014
Hello, can any one tell me why income tax department is charged Interest on late payment of TDS for 2 month even if delay is for less than 30days. Is it correct to collect interest for 2 months ? e.g. If i have deposited TDS on 10th of July 2014 for the deduction made on 30th June Interest is to be charged @ 1.5% for part of themonth. Why should i pay interest for 2 months though delay is for less than 30days Please solve this query
23 July 2014
This is absolutely wrong on the part of Income Tax Department to charge for two months in such a case but this is the practice being followed by them.
CAclubindia
