11 July 2013
Is interest on interest on late payment of TDS liable to be paid? ie. Say tds was paid on 10th june instead of 07th june. The assessee was liable to pay interest @ 1.5% for two months (since tds was deducted in may and part of month is considered full month). However the assessee did not pay interest. Is the assessee liable to pay interest on this interest along with interest as on date? If yes than for 2 months @ 1.5% p.m,right ?
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