late payment tds interest

This query is : Resolved

CA Chintan Parikh (Querist)
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26 July 2010 Dear Sir,

after TDS return we make new entry in 31/03/2010 & due date of TDs payment is 31/05/2010 than we will pay TDs as on 07/8/10 than Tds on interest is count from Jun to aug 3 mopnth interest @3%

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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26 July 2010 No. Interest will be---
April to June (1% p.m.)
July & Aug (1.5% p.m.)
Total Interest = 6% on TDS amount

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 July 2010 Duplication
https://www.caclubindia.com/experts/tds-433415.asp

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CA Chintan Parikh

CA Chintan Parikh (Querist)
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26 July 2010 due date of tds payment 31/05/10 than interest count from june to aug

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 July 2010 No interest to be counted from the date od deduction of TDS not the due date.

Read section 201(1A)
interest payable from the date on which such tax was deductible to the date on which such tax is actually paid

CA Chintan Parikh

CA Chintan Parikh (Querist)
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26 July 2010 thk u sir