12 August 2015
We make payment of tds for July month on 12 August 2015. So I want to know that interest will be chargeable for 1 month or 2 month @1.5%pm or part of month
12 August 2015
Dear friend, Interest shall be levied at 1.5% for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax was actually remitted to the credit of the Government. so, u have to paid TDS interest for july and august two months. Thanx to Mr. Ravinder
12 August 2015
Dear Meenu, After introduction of TRaCES portal, formula for computing interest on TDS has been changed even for one day delay you need to pay interest for 2 months, in simple words if interest is paid after due date then you need to pay interest for the month of deduction of interest as well as for the month of payment of TDS, in y
12 August 2015
sorry, it was for the month of deduction of TDS as well as for the month of payment of TDS. I typed wrong in earlier posting.You can not compute interest on the basis of days. Dear Jitendra even you can check out this with any other expert as well.
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