Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2013 We are issuing credit note dtd 31/03/2013 on which TDS we have to pay now. We will have to pay interest on late payment of TDS. I want to ask the interest payable will be from which date ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 July 2013 If the credit note your are accounting current date, then you can deduct the TDS now and pay without interest

If you are accounting the Credit note also 31st March,2013, you need to pay the TDS with 1% per month or part of the month from 31st March ( since you are deducting the tds now only so interest 1% apply)