Interest on Late payment of TDS
This query is : Resolved
06 July 2010
Whether Interest levied by Income tax dept on late deposit of TDS is deductible ? Also quote section no.
Thanks.
Whether Interest levied by Income tax dept on late deposit of TDS is deductible ? Also quote section no.
Thanks.
06 July 2010
yes.Late deposit attract Interest presently @ rate 1.50% per month or part of the month from the date of deduction to date of tds payment sec.201(1A)
07 July 2010
The same is not a deductible expenditure
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