18 July 2009
Interest for delayed remittance of TDS is 1% for every month or part of a month from the date on which tax was deductible to the date on which it is actually paid. Ref:- Section 201(1A). Interest on refund of TDS is one half % for every month or part of a month from 1st April of the assessment year to the date on which the refund is granted. Ref:- Section 244A.
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