05 July 2013
Dear Sir, One of my Principle's clients has not deposited TDS for the whole of F.Y. 2012-13. Now we've to file tds returns after making due payment. Now my query is: Payment made on 31-JULY-2012 but tds not paid to govt so far, so while calculating interest on this amount should we apply the rate of 1% p.m. (as if treating it as tds was not deducted at the time of payment) or 1.5%(as if treating it as tds was deducted but not paid so far)
07 July 2013
Thank you sir for your reply..I think I've not correctly presented myself here.... I reproduce here: Payment made to party on 31 JULY 2012...But we've failed to deduct TDS on the same....So today if we deduct TDS on the same and pay the same to govt, Can we apply interest rate of one percent. ? Instead of 1.5%