Interest payable on late payment of tds
This query is : Resolved
23 August 2014
Dear Experts,
TDS u/s 194A Rs.66008 for f.y 2013-14, books entry dt.31.03.2014 deposited on 02.08.2014 along with interest on TDS for 5 month (April 2014 to August 2014) @ 1.5% interest monthly. Total deposit made Rs.70959.
Amount of interest=66008*1.5/100*5
=4951
Revise return also made for Qtr-4 f.y 2013-14, TDS-CPC has given a demand notice u/s 154 to deposit additionl amount of Rs.989 to be deposit, which understood they demand for another 1 month interest.
Kindly clarify how the amount payable by us.
Regd,
Akshaya
TDS u/s 194A Rs.66008 for f.y 2013-14, books entry dt.31.03.2014 deposited on 02.08.2014 along with interest on TDS for 5 month (April 2014 to August 2014) @ 1.5% interest monthly. Total deposit made Rs.70959.
Amount of interest=66008*1.5/100*5
=4951
Revise return also made for Qtr-4 f.y 2013-14, TDS-CPC has given a demand notice u/s 154 to deposit additionl amount of Rs.989 to be deposit, which understood they demand for another 1 month interest.
Kindly clarify how the amount payable by us.
Regd,
Akshaya
23 August 2014
Dear Akshaya,
Interest on TDS is payable @ 1.5% per month (calendar month) or part thereof.
You have booked TDS on 31.3.2014, hence interest will be payable for the month of March-2014 also, accordingly interest will be payable for 6 months (march to aug)
Interest on TDS is payable @ 1.5% per month (calendar month) or part thereof.
You have booked TDS on 31.3.2014, hence interest will be payable for the month of March-2014 also, accordingly interest will be payable for 6 months (march to aug)
24 August 2014
Thanks Devanandji, for your valuable suggestion.
24 August 2014
You are welcome friend.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
