Interest on TDS
This query is : Resolved
11 May 2011
In Case of delay in deposit of TDS whether the interest should be calculated on monthly basis or on day basis. For Example TDS is to be deposited by the 30th April 2011 on Rs. 10000/- deducted on 31.03.2011. Tell me what is the interest amount if TDS to be deposited on 12th May 2011.
Thanx & Regards
Reply me as soon as possible.
Thanx & Regards
Reply me as soon as possible.
11 May 2011
1.5% for 31.3.11 to 30.4.11
1.5 % for 1.5.11 to 12.5.11
1.5 % for 1.5.11 to 12.5.11
11 May 2011
interest on tds is calculated on monthly basis, therefore you need to pay interest for Two month
11 May 2011
Do u mean that the period of interest is not calculated from the due date of deposit of TDS which is 30th April 2011??????????
11 May 2011
interest is payable @ 1.5% per month or part of the month, so if there is delay of 2 month and 5 days then you have to pay interest for 3 month
11 May 2011
yes, interest on tds not calculated from due date,
12 May 2011
https://www.caclubindia.com/experts/tds-577865.asp
Also see above link for details on calculation of interest on late deposit of TDS with example.
Also see above link for details on calculation of interest on late deposit of TDS with example.
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