15 May 2020
In COVID interest on late payment of TCS is reduced to 9%. But when i filled TCS Return with caluculation of TCS Interest @ 9 % then return is processed with defaults and default is of less Interest deposited. They are calculating interest @12%p.a. How can we take benefit of 9% ? Should we deposit Interest demand raised by them?
23 May 2020
I think if TCS/TDS is collected/deducted from 20th March 2020 and 30th June 2020 and paid by 30th June 2020 reduced rate is applicable otherwise it is normal rate as was applicable previously.
CAclubindia
