Interest on late deposit of tds deducted
This query is : Resolved
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
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
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
