02 July 2010
if pmt of jan feb bill is made collectively and amt exceed 20000 for contractor but bill amt is15000and 10000 whether tds should be deducted and how intrest liablity is caLculated on delay of pmt of tax
As per section 201(1A) : 1% p.m. for every month or part of the month on the amount of such tax from the date on which tax was deductiable to the date the tax was actually paid. The rate has been increased to 1.5% w.e.f. 01-07-2010
CAclubindia
