Interest on late payment of tds as per income tax

This query is : Resolved

Dipali Prakash Narvekar (Querist)
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04 January 2014 We have provided Salary on 31.07.2013 and Deposited TDS on 07.09.2013 instead of 07.08.2013 we paid 2 Months Interest for this late payment and Notice as per Traces is demanding Interest for 3 Months so Please guide me for the Actual Provision and stand to be taken against this notice

@VaibhavJ

@VaibhavJ (Expert)
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04 January 2014 Hi

TDSCPC is right. Interest is calculated from the month in which TDS is deducted till date of month.

Thanks

Dipali Prakash Narvekar

Dipali Prakash Narvekar (Querist)
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06 January 2014 Sir If trace people are correct according to you then think about where is scope for single month interest so logically it founds not legitimate so sir help me for interpreting act

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@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 Hi

You must be aware that law does nit have logic.

If you dont agree then you may appael against the same.

Thanks