interest on tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2011 if a persons deducted tax on 7th april and liable to pay to govt. on 7th may i.e 7 days after the close of the month in which tds is deducted ..

but tds to the govt. is paid by him on 8th june

wt is the amt of interest to be charged u/s 201 for failure to pay tds in time limit prescribed .

how many months interest..

whether 1 month or 2 months as fraction is also a month????

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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09 June 2011 One and half month for every month or part of month on the amouunt of such Yax deducted from the date on which such tax was deducted to the date on which such tax is actually paid.

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2011 can u pls give me d exact months in the above case, 1.5% for how many months n why?

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