28 July 2010
we have bulk of transaction regarding the payment made and deducted the tds in different dates of june and we have deposited the tds on dated 15th july after due date. so we have calculated interest for two months . please suggest me that m i correct or not
28 July 2010
The Finance Act, 2010 has amended the said provisions and interest shall be levied as under: • At one percent for every month or part of a month from the date on which such tax was deductible to the date on which such tax is deducted; and • At one and one-half percent for every month or part of a month from the date on which such tax was deducted to the date on which such tax is actually paid. The amended provisions are effective from 1st July 2010
28 July 2010
please read carefully -------- if we deducted the tds in 25 june and paid in 15july after due date and i have calculated interest 1% for june month and 1.5% for the month of july. please suggest m i correct or not.
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