21 October 2013
DEAR SIR I WANT THAT WE HAVE DUCTED TDS ON 31ST MARCH 2013AND PAYMENT DATED 14/5/2013 SO INTEREST WILL BE WHICH MONTH PLEASE GIVE ME SUGGESTION. THANKS
under section 201(1A) as you made default in deposit of TDS with in due date (30.04.2013) you need to deposit tds with interest for the period from date of deduction (31.03.20130 to date of deposit of tds (14.05.2013) ,part of month also considered as full month . . rate of interest is 1.5 % per month . . hence you need to deposit tds @1.5% for 2 months
CAclubindia
