Tds

This query is : Resolved 

06 February 2015 When 3% is deducted in interest of tds ?

06 February 2015 there is no 3% deduction of interest on tds under present provisions of income tax act

06 February 2015 Then how much Intrest on late payment of TDS is deducted??


06 February 2015 (i) at 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted;

(ii) at 1.5% for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.

06 February 2015 Two situations :


1. TDS deductable, but not deducted than 1.00 % par month and part thereof

2. TDS deducted, but not paid than 1.5 % par month and part thereof






06 February 2015 INTT WILL BE CHARGE

IF YOU NOT DEDUCTED BUT TDS TO BE DEDUCTED THEN 1% OF TDS AMOUNT TILL YOU NOT DEDUCT THE TDS.

@1.5 IF AFTER DEDUCTION YOU NOT DEPSOIT THE TDS.



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