Interest on late deduction/payment of tds

This query is : Resolved

Asad Quadri (Querist)
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26 November 2012 my company received a bill for professional fess of Rs. 125000 dated 20th May,2012 for consultancy service. The amount was credited in books on 22nd September,2012 and paid on 25th October,2012.
Case-1 TDS deducted on 22nd Sep,2012 But not paid till now.
Case-2 TDS not deducted/ paid till now

Q. When TDS should be deducted?
How much should be interest?

CA Manish

CA Manish (Expert)
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27 November 2012 TDS is to be deducted on 22 sep. and should be paid on or before 7th oct.

Interest:-
if deducted on 22nd sep not paid till date:-
@ 1.5% p.m. from the date of deduction till the date of actual payment (days should be rounded off to the month).

If not deducted:-
@1% from the date it should be deducted till the date of actual deduction (days should be rounded off to the month).

@1.5% from the date of actual deduction till the date of actual payment (days shoud be rounded off to the month.