Interest on late deposit of tds deducted

This query is : Resolved

Sunil (Querist)
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16 July 2014 Dear Friends and experts,

Just wanted to know if the TDS is done on let's say 30/04/2014 and the same is paid to Govt on 08/05/2014 (delay 1 day).

Do I need to pay interest @ 1.5% pm for 2 months or 1 month.

Thanks for your time

CA Parul Saxena online

CA Parul Saxena online

(Expert)
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16 July 2014 I THINK IT WILL BE FOR 2 MONTHS FOR THE MONTH OF APRIL AND MAY AS EVEN 1 DAY IS COUNTED AS A MONTH.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 July 2014 Under the given situation department is charging interest for 2 months but in my view interest should be paid for 1 month only. Let other expert give their views in light of interest calculation method adopted by IT Department.

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