Interest on delay payment of tds

This query is : Resolved

Manish (Querist)
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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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.