23 March 2009
dear sir i have not paid tds for fy 2008-09 for period april 08 to feb 08 the amount of tds is rs 74695 interest rate for tds is 1% per month
so plaese check the interest calculated on the amount say is it right figure
tds april to feb rs 74695 due dt 7 of ech month delays days 11 month
23 March 2009
This calculation is correct only if the above tax was deducted in April 08. You need to calculate separate interest for each tax deduction for each month
for example, you deducted 5000 TDS every month but did not deposited then interest will be calculated as below:
April 08 - 5000*11% May 08 -5000*10% June - 5000*9%
CAclubindia
