Tds

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Anmol Singh Arora (Querist)
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16 November 2012 Suppose a commission is paid on 31.5.2011 Rs 1,00,000 but tds deducted on 30.8.2011 Rs 5000 . There is also a short deduction of tds of Rs 5000. Further this tds is paid to the credit of Central Govt on 31.12.2011.
Please help me whwther intrest is to be calculated at which amt, at wat rate and for wat period...???

V K Bajaj

V K Bajaj (Expert)
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17 November 2012 Interest @ 1% per month on the amount (in your case it is 10000) that was to be deducted actually till 31.8.2011.

Further interest @ 1.5% per month on 5000 (deposited on 31.12.2011) and @ 1.5% on the short amount of Rs. 5000 upto the month you deposit it.

Please note that Authorities can impose 100% penalty for such lapse.

Hope you got your answer.

Now you please reply as what actually your words (see your question) 'whwther' and 'wat' means. I have consulted dictionary but could not find these words. Of which both these words are from please?

My teacher taught me to put one full stop at end of sentence when you are putting three. Further my teacher taught me to put one question mark only. Still further no one taught me to put both 'full stop' and 'question mark'.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 November 2012 1. Interest for late deduction - 1% per month or part of the month on Rs. 5,000 from 31.5.2011 to 30.8.2011

2. Interest on late deposit - 1.5% per month or part of the month on Rs. 5,000 from 7.9.2011 to 31.12.2011

3. Interest on Rs. 5,000 (non deduction) will be levied from 31.5.2011 to the date when it is actually deducted.

If the same is not deducted before the due date of filing the return the expense of Rs. 50,000 (50% of the total amount) shall be disallowed.

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