Tds

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Kishan Vaidya (Querist)
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07 August 2012 if bill date - 20/9/11
and if I deduct TDS on 2/11/11
then how many months will be calculated for the interest for late deducting TDS?..2 or 3....plsssss reply soon........

Amol S Joglekar

Amol S Joglekar (Expert)
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07 August 2012 It should be calculated from the date of payment

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Kishan Vaidya

Kishan Vaidya (Querist)
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07 August 2012 no..not like that..my question is that...how many months should be considered for late deduting TDS...@1 %...
2 months or 3 months...i cant under stand the meaning of part of month...in this case for calculating interest

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CA Vikas Kumar Sharma

CA Vikas Kumar Sharma (Expert)
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07 August 2012 Interest u/s 201(1A) calculated as below -

201(1A)(i) @ 1% for the period Sep 2011 to Nov 2011, i.e. for 3 month.

201(1A)(ii) @1.5% for the period of tax was deducted (Nov 2011) to the date of actual payment.

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Kishan Vaidya

Kishan Vaidya (Querist)
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07 August 2012 THANX A LOT...SIR