Interest rate on TDS delay payment
This query is : Resolved
09 July 2010
Dear all,
If the TDS is due on 7th january 2010 but is paid only on July 10th. then whether I have to calculate Interest @ 1.5% from January 7th or only from 1st July and for the left of the period 1%?
because I think interest rate is changed from July 1st.
If the TDS is due on 7th january 2010 but is paid only on July 10th. then whether I have to calculate Interest @ 1.5% from January 7th or only from 1st July and for the left of the period 1%?
because I think interest rate is changed from July 1st.
09 July 2010
1.5% P.M. FOR JULY FOR REST 1% P.M.
CALCULATE INTEREST FROM THE DATE OF DEDUCTION AND NOT DUE DATE OF PAYMENT.
CALCULATE INTEREST FROM THE DATE OF DEDUCTION AND NOT DUE DATE OF PAYMENT.
09 July 2010
if the due date of tds payment is 7th january, u have to calculate the interest of 1% for the month of jan,feb,march,aprl,may,june and for the month of july u have to calculate the interest @ 1.5%. bcoz the new provision/rate of interest is effective from july 1st onwards.
09 July 2010
Interest for Dec shall also pe paid. As rightly pointed by Mr. Gupta, interest shall be paid from the date of deduction.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- TDS on purchase of value vouchers for employees ?
- 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 ?
Trending Online Classes
CAclubindia
