Tds

This query is : Resolved

CA Arjun B (Querist)
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07 June 2014 If TDS on director remuneration is deducted only at the end of 4th quater.How would be the calculation of Interest on TDS.Whether it it to be 1% per month on TDS amount deductable for each month or 1.5% per month for for the delayed payment or both.And if return is to be revised for each Qauter?And if penalty for delayed filing of return is to be paid seperately for salary and non salary?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 June 2014 both will be aPPLICABLE FOR late deduction and late payment of the same.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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08 June 2014 to save on interest, deduct and then immediately pay on the same day. this way only 1% pm interest shall apply.

for delayed filing of return Rs 200 per day fees for each return is applicable. Such fees is not levied on revision of the return.

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