29 April 2009
The interest on non payment as per section 210 of IT Act arises from the date of deduction till the date of actual payment of TDS @ 1 for every month or part of the month. So if the TDS is deducted on 1st May and deposited on 7th July interedt for 3 months will be levied. One month for may 2nd month for june and 3rd for July. This hold true even if the TDS is deposited up to 31st July.
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