Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2015 Can someone please clarify on the rate of late payment of TDS ?? and since when was the new rate applicable? what was the immediate old rate?

Thanks in advance

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 June 2015 W.e.f 01-07-2010 (Till Now)

# From the date when TDS was deductible till date of actual deduction,rate of interest is 1% per calendar month.

# For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% per calendar month.

Prior to 01-07-2010

From FY 2006-07 onwards for delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.0% per calendar month.