07 May 2012
Assuming the rate of TDS as 1%, take into account the following -
Due date of payment is 30th April, 2012, so there is no question of interest. Yes, the payment of TDS is due in for Financial Year 2011-2012 only. It is because, TDS arises on the event of payment or credit whichever is earlier.
07 May 2012
As per tds arises on the event of payment or credit... so it should be deposited with government before 7th April. it is deposited on 20 th April so 1 % interest ...
07 May 2012
and I already paid tds:: E.g bill Date : 27/03/2012 Amount : 100000 Bill Payment Date : 10/04/2012 Amounnt : 99000 TDS Payment Date : 20/04/2012 Amount : 1100(10000 + 1 % intrest )
CAclubindia
