02 September 2013
Situation 1 : Interest for 3 months Situation 2 : Interest for 1 month @ 1.5% Situation 3 : Interest for 2 months @ 1.5% Situation 4 : Interest for 2 months @ 1.5%
Further, TDS Deducted but not paid, interest rate would be @ 1.5% for the month or part of the month. and TDS not deducted and not paid, interest rate would be @ 1% for the month or part of the month.
02 September 2013
Section 201(1A) of Income tax Act: Period of delay is reckoned from the date of deduction till the date of payment of TDS & rate is 1.5 % p.m. of part of month.
Month means period of 30 days.
Case 1: months-4 Case 2: months-1 Case 3: months-2 Case 4: months-2
02 September 2013
Total days shall be 91 days(including date of deduction as well as date of payment) which comes to 3 months & 1 day......hence, 4 months
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