TDS Interest

This query is : Resolved

S RAMESH KUMAR (Querist)
Follow

27 January 2011 Dear Experts,

TDS Deducted on 06.07.2010, amount remitted on 08.08.10 how much month Interest will attract and how much percentage?

month calculation is 06.07.2010 to 05.08.2010 (31 days) or 30 days

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

27 January 2011 Section 201(1A)says, interest is payable for every month or part of a month from the date of on which tax was deductible to the date on which it is actually paid. So delay, as per my understanding, from 6-7-2010 to 31-07-2010 = 1 month and 01-08-2010 to o8-o8-2010 = 1 month thus aggregating to 2 months.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

27 January 2011 Agreed with Mr. Chakrapani.

1.5 % penal interest for 2 months > 3%

Guest

Guest (Expert)

27 January 2011 Agreed with both experts

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Manik Anant Kale

Yugaindra Rana

ASHOK KUMAR TEKURU

DSK TMC

ABHISHEK RATHORE

Subscribe Now

TDS Interest

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA