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Interest on late payment of TDS!

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(Querist)
26 August 2008 We have deducted tds from contractors on 15.5.08 and paid on 7.7.08. What will be the interest amount for Rs.1000. Is it for one month or two months?
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CHEZHIYAN

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CHEZHIYAN (Expert)
26 August 2008 You have to Pay that before 7.6.8 but you paid on 7.7.8 so 1% int on 1000

i.e, Rs.10

1% for Each Month after they Due Date is the Int Payable

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