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INTERST RATE FOR NON-PAYMENT OF TCS ON SCRAP SALE U/S 206

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(Querist)
16 December 2009 SIR,


INTERST RATE IS 1% OR 2% FOR NON-PAYMENT OF TCS AND TDS IN GOVT DEPTT.

PLZ REPLY..................../
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veena

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veena (Expert)
16 December 2009 Rate of interest is 1% for every month or part of the month on amount of tax from the date on which tax was deductible to date of actual payment. Refer sec.201(1A)
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CA Balram Sharma

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CA Balram Sharma (Expert)
19 December 2009 Agreed
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