Interest on TDS as per justification report

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This discussion clarifies the process for paying interest on late TDS deductions and payments. It explains how to use Challan 281 for online payment and how to correctly attribute the interest, even if it relates to a specific section like 94-C. The advice given is to pay under the 'interest' column in Challan 281 and then adjust it in the revised TDS return.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

07 October 2020 Respected Sir,

3(b) Interest on late payment 22500.00 0.00 22500.00
3(c) Additional late payment interest against the processing of latest correction 25011.00 0.00 25011.00
Total Rs 47,510 we are required to pay on account of interest. Please let us know how to make on line payment of the said interest. What is the procedure ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

07 October 2020 Use TDS challan and pay online. file revised TDS return including this challan.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

07 October 2020 Thank u Raman Sir,
Actually interest has to be paid on late deduction and late payment of TDS. There is a column of interest also in Challan no. 281 but at the time of online correction the said challan is to be added as in which section. The actually the interest is related with 94-C deductee.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

07 October 2020 Pay under interest in challan Add it in 94 C .
Challan paid under one section can be adjusted for other section while filing TDS return.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

07 October 2020 Thanks sir with kindest regards

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