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Late payment of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2012 tds last day is 7th of every month, but its paid in 13 th wat wil be the interest
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CA Rahul Trada

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CA Rahul Trada (Expert)
12 June 2012 Interest on late deposit of TDS amount is 1.5% p.m. or part of the month so even one day late deposit will attract an interest 1.5% p.m.on TDS amount.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
12 June 2012 Interest @1.5%Pm will be charged from the date you have deducted the tds till the date of payment.

Hence, if TDS is deducted before 13th of the last month then interest will be charged for 2 months otherwise it will be charged for 1 month.
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