matter of sale tax int & panelty

This query is : Resolved

Guest

Guest (Querist)

22 November 2010 good morning to all expert,
plz tell me my sale tax return for the month of sep"2010 is 989111 than plz tell me i am late to deposit it 9 days .now plz tell me will i paid int. or panelty or both paid
regards
raju

Hitender Gaur

Hitender Gaur (Expert)
Follow

23 November 2010 if you have deposited tax timely then no need to pay any interest otherwise calculate the interest @ 1% p.month along with delay panelty of Rs. 100.00 per day (Rs. 900.00 for nine days) and deposit the both int. & panelty.

Guest

Guest (Querist)

25 November 2010 thanks sir ,
but sir int. rate is 1.25% not 1%

Upgrade to CAclubindia Pro. Subscribe Now!

Hitender Gaur

Hitender Gaur (Expert)
Follow

25 November 2010 Tax Amount x Nos. of Days for delay x 16%
-----------------------------------------
365