Part deduction of tds

This query is : Resolved

Preetam Singh Shekhawat (Querist)
Follow

02 June 2015 Dear Sir,

I have a query of short/part deduction of TDS.

Bill Amount: 100000
Bill Date: 01-04-2014
Rate: 2%

TDS deducted at the rate of 1% and paid in time.

How much interest, I have to pay on short deduction of TDS as I deducted the rest of TDS on 01-06-2015?

@VaibhavJ

@VaibhavJ (Expert)
Follow

02 June 2015 For late deduction of TDS interest @ 1% for 3 months on TDS amount to be paid while remitting Tax.

Preetam Singh Shekhawat

Preetam Singh Shekhawat (Querist)
Follow

03 June 2015 Dear Sir,

In this case, I have deducted 1% TDS first time. Now I deducted remaining TDS and paid the same.

So, I have to pay interest on remaining part @ 1%?

This is the single bill case so after this it may case of split of bill because I deducted part TDS and claimed and now deducted remaining TDS.

Please guide if there will be any consequences of the same or not?

Upgrade to CAclubindia Pro. Subscribe Now!

@VaibhavJ

@VaibhavJ (Expert)
Follow

04 June 2015 Yes you have to pay interest on remaining part of 1%.

Even in case of split bill situation will be same..