Intt on tds
This query is : Resolved
09 January 2012
Please suggest.
Date of deduction of TDS is 25-Dec-2011
date of Deposit of TDs is 10-Jan-2012
Now the issue is that how many months intt to be deposited ?
As per Income Tax act Intt to be deposited for the period from actual deduction to actual Payment @ 1.5% per month or part of the month. i.e 25-Dec-2011 to 10-Jan -2012.
Date of deduction of TDS is 25-Dec-2011
date of Deposit of TDs is 10-Jan-2012
Now the issue is that how many months intt to be deposited ?
As per Income Tax act Intt to be deposited for the period from actual deduction to actual Payment @ 1.5% per month or part of the month. i.e 25-Dec-2011 to 10-Jan -2012.
09 January 2012
You need to calculate 2 months interest such as Dec-11 one month and Jan-11 one month total 2 months 1.50x 2= 3 % interest as per sec.201(1A)
10 January 2012
YOU NEED TO CALCULATE MONTH BECAUSE YOU ARE FAILED ONE DUE DATE SO HOW CAN YOU UNNECESSERY DEPOSIT ONE MONTH EXTRA INTREST ON TDS.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
