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Interest on late payment TDS

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(Querist)
10 September 2009 I am Raghavendra,

How to calculate interest on late payment
of said TDS.

1) Rs.203.00 - 4 days late

2) Rs.8942.00 - 4 days late

Please reply immediately.

Thanking you.
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Rajesh

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Rajesh (Expert)
10 September 2009 1% interest (simple) for every month

days doesn't matter it should be consider on basis of months

1 day late to be consider 1 month
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ARUN KUMAR V

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ARUN KUMAR V (Expert)
10 September 2009 agree with expert.If payment falls in next year, disallowance of expenditure may attract
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